Hong Kong-based crypto exchange Bilaxy experienced a hijack on a hot wallet on Aug. 29. Some 295 ERC-20 tokens worth over US$21 million were hacked and transferred to a single wallet.
One of the tokens listed on Bilaxy, HOGE, tweeted that all of its tokens on Bilaxy have all been transferred out from the exchange. They stated their token price dipped 35% due to the attack.
Currently, Bilaxy says it has transferred remaining unstolen tokens to a cold wallet.
The exchange’s website has suspended visitors, saying the site is on “temporary system maintenance”; the withdrawal functions have been frozen, and the exchange warns users not to transfer tokens into the exchange.
Bilaxy said in a Telegram group that it expects to spend at least two weeks to thoroughly investigate the cause of the accident and rebuild the system architecture, and hopes that users “have the necessary psychological preparation for it.” The exchange says it has contacted a “professional security team” to investigate and will report the case to authorities to recover the stolen assets.
According to the audit team SlowMist, there have been 21 hacking incidents this month. In addition to the Poly network hijack, the Japanese cryptocurrency exchange Liquid was also hacked, with losses of more than US$90 million. The stolen funds have not yet been returned, but Liquid has obtained a loan of US$120 million from another exchange FTX to make up for the loss.
Solana was not spared, either. On August 19, Solana’s ecological lending agreement Solend was attacked. No funds were stolen, but the funds of five users were miscalculated, and the total losses amounted to $16,000.
