AscendEX loses $80M following ERC-20, BSC, Polygon hot wallet compromise
Out of the lot, around $60 million worth of tokens were transferred over the Ethereum blockchain alone. Tokens stolen from BSC and Polygon are worth $9.2 million and $8.5 million respectively. Crypto trading platform AscendEX suffered a loss of $77.7 million in a hot wallet compromise that allowed hackers to access and transfer tokens hosted over the Ethereum (ETH), Binance Smart Chain (BSC) and Polygon (POLY) blockchains.Soon after realization, AscendEX proactively warned its users about the stolen funds, confirming that the hackers were not able to access the company’s cold wallet....
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PRESS RELEASE. AscendEX, a leading cryptocurrency trading platform, is excited to celebrate Polygon (Curve) Yield Farming on their staking portal by offering an increased APR for active participants. For a limited time, AscendEX users will earn extra returns while Yield Farming with Polygon for any accounts under $10,000 USDC. AscendEX originally announced the launch of Yield Farming with the Polygon stablecoin in July. Starting this week, users can deposit their USDC into Polygon DeFi Yield Farming and receive interest paid in USDC, MATIC, and CRV, earning up to 20% APY with a 10% bonus....
Ascendex, a cryptocurrency exchange, suffered a security breach that allowed hackers to take control of some of the wallets of the exchange. The attack focused on hot wallets, where funds are kept as a buffer to tend to customers’ withdrawals. The company announced that it would reimburse these funds to any affected user. Peckshield, a security and auditing company estimated losses of around $77 million.
Ascendex Hot Wallets Ransacked
Yesterday, Ascendex, a cryptocurrency exchange, reported a security breach caused by a hack attack that focused on the hot wallets of the....
The hot wallet compromise was followed by an unauthorized transfer of eight types of ERC-20 tokens including ETH, USDC, LINK and MKR. The hack was first identified by PeckShield, a blockchain security company, based on the suspicious transfer of ERC-20 tokens from LXC to an unknown Ethereum (ETH) wallet.Liechtenstein-based crypto exchange LCX has confirmed the compromise of one of its hot wallets after temporarily suspending all deposits and withdrawals on the platform. hot wallet compromised? @lcx https://t.co/uL5a7oCFfM— PeckShield Inc. (@peckshield) January 9, 2022 The probable....
This weekly roundup of news from Mainland China, Taiwan, and Hong Kong attempts to curate the industrys most important news, including influential projects, changes in the regulatory landscape, and enterprise blockchain integrations.Limping out of 2021Last week we thought we had hit rock bottom for Chinese exchanges, as Bitmart was on the unfortunate end of a $150m hack. This week, it was more of the same, as AscendEX lost $80m to a similar style of theftaffecting its Ethereum, BSC and Polygon hot wallet. On December 16, AscendEX released a security post-mortem detailing the attack:An....
On March 29, Polygon, the layer two (L2) scaling solution that runs parallel with the Ethereum blockchain, has announced a new identity platform called Polygon ID. While the protocol is is still under development, Polygon ID is powered by zero-knowledge (ZK) cryptography and Polygon expects a public version of the ID wallet app and software development kit (SDK) to release by Q2 2022.
Polygon Reveals ID Protocol Powered by ZK Technology
Polygon has introduced a new identity platform called Polygon ID that aims to bolster zero-knowledge identity for Web3 applications. In the....