According to a report by PeckShield, it appears that some tokens on the AscendEX exchange (formerly Bitmax) have been abnormally removed from the platform’s hot wallet. Accordingly, due to a small bug in the wallet operation, hackers quickly accessed and transferred a number of tokens stored on the Ethereum blockchain, Binance Smart Chain (BSC) and Polygon.
AscendEX reports losses of $ 77.7 million
PeckShield has compiled a list of tokens on the AscendEX exchange that have been abnormally removed from the platform’s hot wallet.
The source: PeckShield
Accordingly, a number of tokens including ERC-20, Binance Smart Chain (BSC) and Polygon have left the exchange’s hot wallet. All deposits and withdrawals have been suspended. The amount of damage recorded so far amounts to around 77.7 million US dollars. While $ 60 million tokens were transferred over the Ethereum blockchain, the tokens stolen by Binance Smart Chain (BSC) and Polygon were worth $ 9.2 million and $ 8.5 million, respectively.
Popular cryptocurrencies stolen in this hack include USD Coin (USDC), Tether (USDT), and Shiba Inu (SHIB). However, AscendEX has yet to officially confirm the total damage.
Immediately after the discovery, AscendEX proactively warned users of the stolen funds and confirmed that the hacker was unable to access the company’s cold wallet reserves. The company also announced that it will support affected users by replacing the damage caused by this attack.
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