{"id":97478,"date":"2024-10-24T09:57:02","date_gmt":"2024-10-24T13:57:02","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=97478"},"modified":"2024-10-24T09:57:36","modified_gmt":"2024-10-24T13:57:36","slug":"bingx-exchange-reopens-post-43-million-hack","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/bingx-exchange-reopens-post-43-million-hack\/","title":{"rendered":"BingX Exchange Reopens Post\u00a0$43 Million Hack"},"content":{"rendered":"\n

Following a $43 million attack, the BingX exchange<\/a> has resumed full operations and implemented ShieldX protection to secure user assets.<\/p>\n\n\n\n

\"BingX<\/figure>\n\n\n\n

BingX exchange has fully resumed operations after a major hack in September that saw over $43 million worth of cryptocurrencies stolen.<\/p>\n\n\n\n

The company has restored all deposit and withdrawal services<\/a>, assuring clients that their funds are secure. BingX has introduced a cybersecurity program called ShieldX to enhance its security further.<\/p>\n\n\n\n

BingX Exchange Returns to Full Operations<\/h2>\n\n\n\n

In a press release, BingX announced its return to normal operations \r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a>following a cyberattack on its hot wallet system in September. <\/p>\n\n\n\n

The hack resulted in the theft of various stablecoins like USDT, USDC, and WUSD, which were then converted into Ethereum and Binance Coin. <\/p>\n\n\n\n

The hackers made off with 360 altcoins valued at more than $43 million.<\/p>\n\n\n\n

BingX has promised to compensate all affected users from its funds, ensuring that their assets will be returned. <\/p>\n\n\n\n

The platform has fully reinstated its deposit and withdrawal services, aiming to restore user trust through its quick recovery and introducing a new security measure.<\/p>\n\n\n\n

Launch of the “ShieldX” Security Initiative<\/h2>\n\n\n\n

In response to the breach and to secure the platform against future threats, BingX has implemented a new security system called “ShieldX.” <\/p>\n\n\n\n

This initiative focuses on bolstering the exchange\u2019s defenses against external threats and enhancing the protection of users' assets.<\/p>\n\n\n\n

A key feature of ShieldX is an upgraded wallet firewall designed to prevent malicious actors from attacking it. <\/p>\n\n\n\n

Additionally, BingX has partnered with leading third-party cybersecurity firms to provide around-the-clock monitoring and threat prevention, ensuring any vulnerabilities are quickly addressed.<\/p>\n\n\n\n

Vivien Lin, Chief Product Officer at BingX, emphasized the company's commitment to security, stating, <\/p>\n\n\n\n

\n

\u201cOur priority remains ensuring a secure environment for all users through continuous improvements and strategic partnerships.\u201d<\/p>\n<\/blockquote>\n\n\n\n

Regular Security Audits and a Hacker Bounty Program<\/h2>\n\n\n\n

To further improve platform security, BingX will conduct regular assessments by independent security firms to identify and fix any system vulnerabilities before they can be exploited.<\/p>\n\n\n\n

Moreover, BingX is launching a hacker bounty program, offering financial rewards to ethical hackers and security researchers who can find loopholes in the platform.<\/p>\n\n\n\n

This hack is not an isolated case in the cryptocurrency sector. Earlier this year, Indian crypto exchange Wazir was also hacked<\/a>, losing $230 million in digital assets. <\/p>\n\n\n\n

Wazir later faced criticism for revealing 240,000 wallet addresses in a Singapore court, raising concerns about privacy and security among its users.<\/p>\n","protected":false},"excerpt":{"rendered":"

Following a $43 million attack, the BingX exchange has resumed full operations and implemented ShieldX protection to secure user assets. BingX exchange has fully resumed operations after a major hack in September that saw over $43 million worth of cryptocurrencies stolen. The company has restored all deposit and withdrawal services, assuring clients that their funds […]<\/p>\n","protected":false},"author":56,"featured_media":97483,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[14325,22493],"class_list":["post-97478","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bingx","tag-bingx-hack"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2024\/10\/BingX-Exchange-Reopens-Post-43-Million-Hack.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/97478","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/56"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=97478"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/97478\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/97483"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=97478"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=97478"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=97478"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}