Bilaxy, a lesser-known cryptocurrency exchange, has confirmed a major hacking incident, reporting the losses of funds due to an exploit of the platform’s ERC-20 hot wallet. Bilaxy announced on its Telegram channel that the crypto exchange suffered a “serious hack” on Saturday between 6 pm and 7 pm UTC, resulting in the transfer of 295 different ERC-20 tokens. According to the exchange, the affected tokens were transferred by the hacker to a single address. At the time of writing, the tokens are valued at $170,600, with the most recent transaction sending out 50 Ether (ETH), or about $159,000, on Monday. …
The KuCoin cryptocurrency exchange is partly restoring deposits and withdrawals following a major hack. As KuCoin officially announced on Oct. 7, the platform has completed the wallet security upgrade for major cryptos like Bitcoin (BTC), Ether (ETH), and Tether (USDT). Following the upgrade, KuCoin has resumed the deposit and withdrawal service of BTC, ETH, and ERC-20-based USDT. According to the announcement, USDT running on other blockchains like EOS, Tron, and Omni is not yet available for withdrawals. KuCoin stated: “KuCoin is gradually restoring the deposit and withdrawal services of all tokens, and the full service of USDT will also resume …
Cryptocurrency exchange platform Hotbit has shut down all of its services after an attempted cyberattack on Thursday. “Hotbit just suffered a serious cyber-attack starting around 08:00 PM UTC, April 29, 2021, which led to the paralyzation of a number of some basic services,” a notice on the platform’s website reads. The hackers were reportedly unsuccessful in gaining access to Hotbit’s wallets but did manage to compromise the platform’s user database. Thus, the Hotbit team has advised customers to disregard any communication from entities claiming to be representatives of the exchange. With all normal operations currently paused during the ongoing maintenance, …
Japanese cryptocurrency exchange Liquid has secured $120 million in debt financing from FTX Trading after suffering a nearly $100-million hack last week. Announcing the news Thursday, Liquid Group and FTX Trading — the owner and operator of crypto exchange FTX — said that the new funds will help Liquid improve its balance sheet and contribute to the exchange’s licensing opportunities in the key jurisdictions of Japan and Singapore. The new funding also targets new capital generation, increasing liquidity, as well as improving Liquid’s customer support, the announcement notes. FTX CEO and founder Sam Bankman-Fried said that the new financing underpins …
The trustee of hacked, now-defunct cryptocurrency exchange Mt. Gox has posted another update on the long-running process of refunding the exchange clients. Nobuaki Kobayashi, a Tokyo attorney appointed to act as civil rehabilitation trustee to manage Mt. Gox’s bankruptcy estate funds, announced Thursday that the Tokyo District Court ordered that “There were no grounds for disapproving the draft rehabilitation plan.” As previously reported, the plan was filed on Dec. 15, 2020. According to the announcement, the court has approved a repayment process schedule that includes a vote by creditors on the proposed refund plan. As part of the process, the …