Bilaxy exchange suspends website after ERC-20 hot wallet hack

The little-known cryptocurrency exchange Bilaxy has confirmed a major hacking incident and reported that the platform’s ERC-20 hot wallet was used and caused a loss of funds.

Bilasi Announce On its Telegram channel, the cryptocurrency exchange suffered a “serious hack” from 6pm to 7pm (UTC) on August 28, resulting in the transfer of 295 different ERC-20 tokens.

According to the exchange, the affected tokens are Transfer in Be hacked to an address. At the time of writing, the token is worth $170,600, and the most recent transaction sent 50 ether (Ethereum), or about $159,000, August 30.

Soon after detecting abnormal hot wallet transactions, Bilaxy suspended its website to take emergency measures and transferred “hundreds of tokens” from hot wallets to cold wallets to ensure asset security.

In a separate Telegram update, Bilaxy Ask Its customers stopped depositing to the platform.Bilasi website Except for the temporary system maintenance notice and the link to the platform’s telegram channel, no further information is provided.

Bilaxy has not yet announced the dollar value of the assets stolen by the hackers.Some unconfirmed reports Speculate The exchange may lose up to US$450 million.

According to the update of the decentralized financial protocol Hoge Finance, the attack Involved Hacking and transfer of nearly 300 cryptocurrencies including Tether (USDT), dollar coins (USDC), Uniswap (UNI), etc.Hauge Financial Said Almost all of the 1 billion HOGE tokens ($22 million) stored on Bilaxy have been withdrawn from the exchange and sent to another wallet.

related: The troubled DeFi project xToken suffered its second major attack since May

Bilaxy did not immediately respond to Cointelegraph’s request for comment. The exchange told clients that it will cooperate with security agencies and law enforcement agencies to provide security audits and conduct investigations.

According to data from the crypto tracking website CoinMarketCap, Bilaxy is roll out Registered in the Republic of Seychelles in 2018. At the time of writing, the exchange’s Twitter account has more than 25,000 followers.

When the news came, Liquid Exchange gradually changed from Nearly $100 million in hacking That happened in mid-August. August 29, Liquid recover Deposits and withdrawals of several cryptocurrencies, including ERC-20 and Stellar-based USDC, Dai (DAI) and GYEN.