Bilaxy Exchange Hacked: Users Urged Not to Deposit

The number of cryptocurrency exchanges falling victim to blatant hacks continues to grow, with the latest one being Bilaxy.

Bilaxy, a Seychelles-based digital asset trading platform, reported earlier on August 29th that some of its wallets were compromised. While the exchange hasn’t confirmed the amount stolen yet, some estimations claim that it could be around $450 million in various cryptocurrencies.

  • Bilaxy’s official Telegram channel saw several updates today indicating that the platform had temporarily stopped its services due to maintenance.
  • A few hours later, though, the exchange took it to Twitter to announce a “top urgent-Bilaxy hacked notice.”
  • It reads that the company’s hot wallet was compromised and advised customers to refrain from sending any funds to their accounts.
  • Since then, the information provided by the exchange has been little-to-none, aside from the brief updates on Telegram that the team is working to resolve the problem and that users should not be worried.
  • As of now, Bilaxy has failed to provide the precise amount that the hackers were able to swipe. The website is still non-operational, as of writing these lines.
  • There’re already several addresses that have been linked with the hack, including this one which was marked as such.
  • From HogeFinance updated that all HOGE tokens stored on Bilaxy were already drained and sent to another wallet. Those tokens have a value of just under $22 million.
  • Other estimations in Telegram indicate that the total amount stolen from the exchange is somewhere north of $400 million. Nevertheless, there’s still no official confirmation about this.
  • Few days ago we had a similar case in which the Japanese exchange Liquid Global became a victim of a hack. The perpetrators managed to swipe around $80 million in digital assets.
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