Crypto Exchange AscendEX Hacked, Losses Estimated At $77M

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Cryptocurrency alternate AscendEX suffered a hack for an estimated $77 million following a breach of 1 its sizzling wallets.

  • On Sunday, AscendEX announced via Twitter that it had identified quite a lot of unauthorized transactions from one among its sizzling wallets on Saturday.
  • Assets not affected have been transferred to chilly wallets whereas the investigation is carried out, the alternate added.
  • Blockchain analytics firm PeckShield estimated that the stolen funds amounted to $77 million unfold throughout three chains: Ethereum ($60 million), Binance Smart Chain ($9.2 million) and Polygon ($8.5 million).
  • The largest share of the $77 million was accounted for by the relatively minor taraxa (TARA) with $10.8 million, whereas the mixed shares of stablecoins USDT and USDC accounted for $10.7 million.
  • The Singapore-based alternate, which was previously often known as BitMax, claims to serve a million institutional and retail purchasers. It not too long ago raised a $50 million Series B led by Polychain Capital and Hack VC.

Read extra: BitMart CEO Says Stolen Private Key Behind $196M Hack