AscendEX Exchange Loses $77.7M in Latest Crypto Hack

AscendEX Exchange Loses $77.7M in Latest Crypto Hack

THELOGICALINDIAN - AscendEX has promised that impacted users will be absolutely refunded

The AscendEX crypto barter was afraid for $77.7 actor due to a compromised hot wallet.

Singapore-based AscendEX was hacked. 

On Saturday, centralized crypto barter AscendEX appear that a cogent sum of crypto tokens was illegitimately transferred from its platform. The barter appear in a Twitter cilia that, on December 11 at about 22:00 UTC, “a cardinal of crooked transfers” were fabricated by an alien article from its hot wallet.

It added abreast that while its hot wallet was compromised, its algid accumulator or offline wallets remained unaffected. The belvedere did not clearly acknowledge the absolute sum of money baseborn during the attack.

PeckShield, a acclaimed acute affairs auditing firm, estimated that $77.7 million in assorted assets were baseborn during the hack. Per its on-chain analysis, the hacker transferred funds to three blockchains: $60 actor account of tokens were beatific to Ethereum, $9.2 actor to Binance Acute Chain, and $8.5 actor to Polygon. 

The AscendEX adventure is the third above advance targeting centralized exchanges in the aftermost six months. Aftermost week, BitMart, addition centralized exchange, absent $196 actor in crypto assets in a agnate incident. In August, Japanese crypto barter Liquid additionally reported accident about $97 actor due to a compromised hot wallet. 

The belvedere has assured that “any impacted users will be compensated 100%.” AscendEX is now alive with blockchain analytics firms, exchanges, and law administration to adviser the transferred assets. In acknowledgment to the incident, AscendEX CEO George Cao will be hosting an Ask Me Anything altercation on Twitter Spaces today at 16:00 UTC. 

In November, Ascendex raised $50 million during a Series B allotment annular from top crypto adventure basic firms, including Polychain Capital, Jump Capital, and Alameda Research.

Disclosure: At the time of writing, the columnist of this allotment endemic ETH and added cryptocurrencies.