Popular Bitcoin exchange AscendEX (formerly Bitmax) is reporting that some tokens have been unusually hijacked from the platform’s hot wallet. As the hacking took place earlier today, hackers took ERC-20, BSC and Polygon tokens out of the stock market. Here are the details…
Bitcoin exchange reports $77.7 million loss
According to a report from PeckShield, some tokens on the AscendEX exchange (formerly Bitmax) appear to have been unusually migrated from the platform’s hot wallet:
According to the chart, a number of tokens, including ERC-20, Binance Smart Chain (BSC), and Polygon, were anomalously moved from the exchange’s hot wallet. All deposits and withdrawals on the exchange are currently suspended. The loss so far is approximately $77.7 million. Accordingly, the estimated loss is $60 million in Ethereum, $9.2 million in BSC tokens and $8.5 million in Polygon. The Bitcoin exchange announced the hacking attack with the following tweet during the day:
We detected a number of ERC-20, BSC and Polygon tokens transferred from our hot wallet. Cold wallets were not affected. If any user’s funds are affected, they will be fully covered by AscendEX.
22:00 UTC 12/11, We have detected a number of ERC-20, BSC, and Polygon tokens transferred from our hot wallet. Cold Wallet is NOT affected. Investigation underway. If any user’s funds are affected by the incident, they will be covered completely by AscendEX.
— AscendEX (@AscendEX_Global) December 12, 2021
AscendEX has so far proactively warned users about stolen funds. The exchange also confirmed that hackers were unable to access the company’s cold wallet reserves. The company also announced that it will assist affected users by compensating the damage caused by this attack.
As we reported as Somanews, Pizza DeFi, one of the decentralized finance projects, was hacked recently. A hacker named “itsspiderman” who infiltrated the platform minted an infinite amount of Tripool tokens. With the selling pressure after the hacking events, token prices may experience deep decreases.