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Cryptocurrency exchange AscendEX hacked and $80 million stolen

Cryptocurrency exchange AscendEX hacked and $80 million stolen

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Answer Cryptocurrency exchange AscendEX hacked and $80 million stolen

Cryptocurrency exchange AscendEX has fallen victim to a hack, and the hacked platform was formerly known as BitMax.

AscendEX, a cryptocurrency exchange that recently celebrated its third anniversary, confirmed that several cryptocurrencies had been maliciously moved from its hot wallet earlier today.

While the company has yet to confirm the total amount stolen, initial estimates show the money is worth about $80 million.

The company admitted discovering an unknown number of cryptocurrencies based on Ethereum and Binance, which were moved from its hot wallet earlier today, December 12th.

She promised that she had launched an investigation and that the cold wallets would not be affected.

In addition, AscendEX said that all users whose money has been drained will be fully compensated by the platform.

Read:GateHub hacked and $9.5 million in XRP cryptocurrency stolen

The trading platform did not provide specific details regarding the cryptocurrencies that were withdrawn and stolen and what their value is in dollars.

While data and security analysis firm PeckShield later determined the estimates, the company indicated that the total loss is about $78 million, of which $60 million is for Ethereum-based cryptocurrencies, $9.2 million on the Binance blockchain, and $8.5 million on the Polygon blockchain.

PeckShield also provided a list of stolen cryptocurrencies.

This is the second high-end hack against a central cryptocurrency exchange since the beginning of December.

Last week we reported at Bitcoin Arab that cryptocurrency exchange Bitmart has also fallen victim to a security breach in which up to $200 million was swiped in several cryptocurrencies.

The trading platform temporarily suspended withdrawals, which resumed days later, and also promised to compensate users with its own money.

Read:Insurance giant AXA now allows its customers to pay insurance premiums in Bitcoin

Read also:

US Consumption Inflation Rises to 40-Year High…Can Bitcoin Be a Hedge Again?

Fake ‘Metamask’ wallet scams increase amid growing popularity of Defi and DEX


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