AscendEX Loses $ 80 Million After The ERC-20, BSC, and Polygon Online Wallet Are Compromised

AscendEX cryptocurrency trading platform suffered a loss of $ 77.7 million in an online wallet compromise that allowed hackers to Access and transfer of tokens hosted on the Ethereum (ETH), Binance Smart Chain (BSC) and Polygon (MATIC) blockchains.

Shortly after realizing AscendEX warned Proactively notify its users of the stolen funds and confirm that hackers were unable to access the company’s offline wallet reserves.

22:00 UTC 11/12, We have discovered a number of ERC-20, BSC and Polygon tokens transferred from our online wallet. The offline wallet was NOT affected. Ongoing investigation. If any user’s funds are involved in the incident, they will be fully covered by AscendEX.

According to PeckShield, a blockchain data analytics and security company, Around $ 60 million worth of tokens were transferred over the Ethereum blockchain. Stolen tokens from Binance Smart Chain and Polygon are valued at $ 9.2 million and $ 8.5 million, respectively, based on EtherScan data.

Estimated Loss @AscendEX_Global: $ 77.7 million total ($ 60 million in @ethereum $ 9.2 million @BinanceChain $ 8.5 million @ 0xPolygon). Here is the list of assets transferred and their amounts in @ethereum

AscendEX Loses $ 80 Million After The ERC-20, BSC, and Polygon Online Wallet Are Compromised
AscendEX Loses $ 80 Million After The ERC-20, BSC, and Polygon Online Wallet Are Compromised

Some of the most popular tokens stolen in this hack are USD Coin (USDC), Tether (USDT), and Shiba Inu (SHIB).. But still, AscendEX has not yet officially confirmed the exact value of tokens stolen by hackers.

The company also announced that it will help affected users recover their losses from this attack..

Just last week, On December 5, a similar attack on the BitMart crypto exchange resulted in a loss of nearly $ 200 million due to a compromise of the online wallet hosted on the Ethereum blockchain and the Binance Smart Chain.

As Cointelegraph reported, the hack was a direct case of transfer, barter or barter and money laundering:

Transfer of the stolen tokens to Bitmart. Fountain: PeckShield

When BitMart CEO Sheldon Xia confirmed the losses on Twitter, he also announced one temporary suspension of all withdrawals and deposits pending further investigation.

The deposit and withdrawal function of all tokens will be gradually resumed, along with the progress of the restoration of the security tests and the development of the public chain. Don’t worry, we’re moving forward, safety will always come first.

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