Inside the $44.7M BingX Exploit: What Went Wrong?
2024-10-10 • Quill Audits •
QuillAudits describes the September 2024 BingX hot-wallet breach, where attackers stole about $44.7 million and moved funds across multiple blockchains to complicate tracing. The source identifies drained BingX wallet addresses, attacker-controlled Ethereum and BNB Chain addresses, and abnormal access to hot-wallet infrastructure as the likely root cause. BingX paused withdrawals, moved assets as part of its emergency response, and later said most chains had restored deposit and withdrawal services after recovering more than 700 tokens. The excerpt does not attribute the incident to Lazarus or another DPRK actor, so the usable CTI value is the exchange-wallet compromise and laundering behavior rather than actor attribution.