tl;dr
BingX exchange has fully restored its operations after a significant hack in September, where over $43 million in cryptocurrencies was stolen. All deposit and withdrawal services have been reinstated, and a new cybersecurity program called ShieldX has been introduced to enhance security. The program...
BingX Exchange has fully restored its operations after a $43 million hack in September and introduced the "ShieldX" cybersecurity program. The ShieldX program focuses on external threat protection and asset security, including an improved wallet firewall and 24/7 monitoring through partnerships with third-party cybersecurity companies.
In addition to restoring all deposit and withdrawal services, BingX will conduct regular security audits and has implemented a hacker bounty program to enhance platform security and prevent future breaches.
In a press release, BingX announced the restoration of normal operations following the cyberattack in September, which resulted in the theft of millions of stablecoins and other cryptocurrencies. The company has offered to compensate all victims of the hack and assured users that their assets will be returned.
Furthermore, BingX has introduced the ShieldX security initiative to strengthen protection against external threats and enhance asset security, with a specific focus on an improved wallet firewall and 24/7 monitoring provided by third-party cybersecurity companies.
To further enhance security, BingX will conduct regular security audits and has launched a hacker bounty program to engage ethical hackers and security researchers in identifying platform vulnerabilities.
This incident reflects broader security challenges in the cryptocurrency sector, as evidenced by a major hack at Indian crypto exchange Wazir earlier this year, which led to the theft of $230 million worth of digital assets. Following this hack, Wazir faced criticism for revealing 240,000 wallet addresses in a Singapore court, raising concerns about privacy and security.
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