BingX Exchange Resumes Full Operations After $43 Million Hack

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BingX exchange has successfully restored its full operations following a significant cyberattack in September, where over $43 million worth of cryptocurrencies were stolen. This recovery comes with a strong commitment from the exchange to protect its users and enhance security measures.

Full Restoration of Services

In a recent press release, BingX announced that all deposit and withdrawal services have been fully reinstated. This move aims to assure users that their funds are safe and that the exchange is back to normal operations. The cyberattack had targeted the exchange’s hot wallet system, leading to the theft of various stablecoins, including USDT, USDC, and WUSD. The hackers converted these stablecoins into Ethereum and Binance Coin, ultimately stealing a total of 360 different altcoins valued at more than $43 million.

Commitment to Victims

BingX has pledged to fully compensate all victims of the BingX hack using its own funds. This promise reflects the exchange's dedication to customer care and its desire to regain the trust of its user base. The swift action taken to restore services, combined with the assurance of compensation, demonstrates BingX's commitment to making things right for its clients.

Enhanced Security with ShieldX

To bolster its security measures further, BingX has introduced a new cybersecurity initiative called ShieldX. This program focuses on protecting user assets with enhanced security features, including wallet firewalls and round-the-clock threat monitoring. With ShieldX, the exchange aims to create a safer trading environment for its users and prevent similar incidents in the future.

Moving Forward

The recovery of BingX after the hack is a testament to its resilience and dedication to user safety. By promptly restoring services and implementing new security measures, BingX is taking significant steps to ensure that its users can trade with confidence. As the exchange moves forward, it will continue to prioritize user security and satisfaction, striving to maintain its reputation as a reliable trading platform.