Hackers Hack Crypto Exchanges With Investments More…

Hackers Hack Crypto Exchanges With Investments More… post thumbnail image

Project representatives are continuing to investigate the incident.

Singapore crypto exchange AscendEX has been hacked. Hackers managed to withdraw nearly $78 million worth of assets from the trading platform. Information about the security system breakthrough appeared on the microblog of the crypto exchange.

  • According to AscendEX representatives, cybercriminals gained access to the trading platform’s hot wallets. Client funds that are in cold storage, according to the crypto exchange team, are safe.
  • PeckShield experts were among the first to publish their analysis of the incident. According to them, the scammers managed to withdraw $77.7 million worth of cryptocurrency from the platform.
  • Most of the downsides, according to PeckShield, are tokens built on top of Ethereum. They accounted for about $60 million of the funds withdrawn. Also, the fraudsters, according to analysts, managed to gain access to assets built on the blockchains of Binance Smart Chain ($9.2 million) and Polygon ($8.5 million).
  • As of this writing, the AscendEX team is investigating the incident.
  • Against the background of the hack, messages from disgruntled users began to appear on the network. One of AscendEX’s clients accused the crypto exchange of being fraudulent. He claimed that 1 bitcoin was missing from his account even before it was hacked. In response to a client’s request for assistance in understanding the situation, an AscendEX representative advised him to contact the police.

It should be noted that a month earlier, AscendEX raised $50 million for expansion. Among other things, Alameda Research, the richest representative of the crypto industry, Sam Bankman-Fried, invests in crypto exchanges.

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