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AscendEX reportedly loses ~$78M after its hot wallet is compromised
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ambcrypto.comThe number of hacks has consistently corresponded with the growing popularity of cryptocurrencies. A total of 169 blockchain hacking incidents have taken place in 2021, with nearly $7 billion in funds lost. Crypto-exchanges, wallets, and marketplaces around the world have been victims of such illicit activities.
Popular crypto-trading platform AscendEX (formerly Bitmax) is in the news today for all the wrong reasons. It made news after it suffered a loss of $77.7 million following its hot wallet being compromised.
According to a statement released by the platform, it detected an undisclosed number of tokens based on Ethereum, Binance Smart Chain, and Polygon. The incident in question took place in the late hours of 11 December.
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