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Compromised hot wallets from BSC, ERC-20, and Polygon cost AscendEX $80M Loss.

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Tokens worth around $60 million were transferred through the Ethereum blockchain on AscendEX exchange platform.


Tokens worth around $60 million were transferred through the Ethereum blockchain alone, and the tokens stolen from Polygon and BSC are each worth $9.2 million $8.5 million respectively.

The cryptocurrency trading platform AscendEX was hacked and lost $77.7 million after hackers gained access to and transferred tokens hosted over the Ethereum, Binance Smart Chain, and Polygon blockchains. Immediately following the discovery, AscendEX informed its users that the funds had been stolen, positively confirming that hackers had not accessed the company’s cold wallet reserves.

PeckShield, a company specializing in blockchain security and data analytics, estimates that more than $60 million worth of tokens were transferred using the Ethereum blockchain. Tokens stolen from Binance Smart Chain and Polygon were worth $9.2 million and $8.5 million, respectively.

USD Coin (USDC), Tether (USDT) and Shiba Inu (SHIB) were among the popular tokens taken by the hackers in this hack. However, AscendEX has yet to officially confirm the full value of the tokens they took.

As part of its announcement, the company said that it would reimburse the affected users for their losses due to this attack.

Earlier this month, on Dec. 5, BitMart also suffered a similar attack that caused the exchange to lose nearly $200 million due to a hot wallet compromised on Ethereum and Binance’s Smart Chain.

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