Cryptocurrency Exchange AscendEx faces a loss of $77.7Millions in Hot wallets compromises that allow hackers to access and move tokens hosted over Ethereum, Binance smart chain (BSC), and Polygon(Matic) blockchains.

As per AscendEx official tweet on 12th December. 2021 “ 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.”

According to the security researcher Peckshield, the Blockchain and Data analytics company, nearby $60 M of tokens were moved over the Ethereum Blockchain. Hackers stolen tokens from the Binance smart chain (BSC) and $9.2 Million worth of polygon and $8.5Millions worth of ethereum, Eth transactions data.

In this hack, the most popular tokens hackers have stolen included stable coins like USDC ( USD COins ), UDST (Tether ), and SHIB (Shiba Inu). Large sums of Taraxa (TARA) and small amounts of Compound (COMP) tokens were stolen by hackers. The company officially announced to help the affected users who have affected wallets by covering up their losses due to a hacking attack. 

A few days back, the same attack happened with Crypto trading Exchange BitMart, their loss of approx $200 Million due to a hot wallet compromise hosted over the Eth and BSC Blockchain.

About the AscendEX (Formerly BitMex) :

AscendEx is a Singapore-based CryptoCurrency Exchange and Derivative trading platform that was founded in 2014 by Arthur Hayes. Formerly Company name was BitMex. It's a global digital asset financial platform. They offered to buy and sell Cryptocurrency with the most popular crypto trading pairs like ETH/USDT, BTC/USDT, and BTC/USDT. 

GOVIND VISHWAKARMA

CBW - External Analyst

INDIA