Cryptocurrency trading platform AscendEX suffered a loss of $ 77.7 million in an online wallet compromise that allowed hackers access and transfer tokens hosted on the Ethereum (ETH), Binance Smart Chain (BSC) and Polygon (MATIC) blockchains.
Shortly after realizing, AscendEX warned proactively tell its users about the stolen funds, confirming that hackers were unable to access the company’s offline wallet reserves.
22:00 UTC 11/12, 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
22:00 UTC 11/12, We have detected 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 affected by 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 through the Ethereum blockchain. Stolen tokens from the Binance Smart Chain and Polygon are worth $ 9.2 million and $ 8.5 million respectively, based on EtherScan data.
Estimated loss @AscendEX_Global: $ 77.7M in total ($ 60M on @ethereum $ 9.2M @BinanceChain $ 8.5M @ 0xPolygon). Here is the list of the transferred-out assets and their amounts on @ethereum pic.twitter.com/VC4DKOwu4f
– PeckShield Inc. (@peckshield) December 12, 2021
Estimated loss @AscendEX_Global: USD 77.7 million in total (USD 60 million in @ethereum USD 9.2 million @BinanceChain USD 8.5 million @ 0xPolygon). Here is the list of transferred assets and their amounts in @ethereum
Some of the popular tokens stolen in this hack include USD Coin (USDC), Tether (USDT), and Shiba Inu (SHIB). But nevertheless, AscendEX has not yet officially confirmed the exact value of the tokens stolen by hackers.
The company also announced that it will help affected users by covering their losses due to this attack..
Just last week, On December 5, a similar attack on the BitMart cryptocurrency exchange resulted in a loss of nearly $ 200 million due to a compromise of the online wallet hosted on the Ethereum blockchain and on the Binance Smart Chain.
As Cointelegraph reported, the hack was a direct case of transfer, swap or exchange and laundering:
When BitMart CEO Sheldon Xia confirmed the losses via Twitter, he also announced a temporary stoppage of all withdrawals and deposits while further investigations were conducted.
The deposit and withdrawal function of all tokens will be resumed step by step, along with the recovery progress of security testing and public chain development. No worries, we are marching forward, security will always be the first priority.
– Sheldon Xia (@sheldonbitmart) December 8, 2021
The deposit and withdrawal function of all tokens will be resumed little by little, along with the progress of recovery of security tests and the development of the public chain. Don’t worry, we are moving forward, safety will always be the first priority.
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