Hackers are exploiting Bilaxy trading platform, hot wallet was attacked

An hour ago, the Bilaxy exchange announced on their official Twitter channel that the platform was attacked. Although it has not been disclosed, the team also recommends that users temporarily deposit money into Bialaxy accounts.

Bilaxy suddenly attacked unknown causes

Bilaxy is a Seychelles-based cryptocurrency exchange site. Before being attacked by hackers, it is also one of the names that own quite a large trading volume, used to be in the top 60 largest mass lumps.

One thing that makes it more prominent than the remaining exchanges is the extremely fast coin listing speed. It is possible to take Perl.eco (PERL), which is listed faster than Binance.

Bilaxy does not provide clear information about the headquarters as well as the company behind it. Concerns for this project include no public information about the team members and a lack of insurance in the case of a hack.  However, the origin of trading platforms is not a big problem and never supporting its quality assurance. Anyway, if we have more information, we will be assured of somewhat you store assets on it, mainly when the exchange is hacked like today.

It must be added that attacking today is not the reason for showing weakness because most trading platforms are always the attack target of hackers. Many large exchanges have been hacked like Binance, Huobi Global, Bittrex.

At present, Bilaxy has not yet revealed why the exchange was attacked but only recommended that users temporarily deposit into the account. They said they are racing with time to prevent the fastest damage possible.

hackers-are-exploiting-bilaxy-trading-platform-hot-wallet-was-attacked

According to the notice from its Telegram, they will make temporary maintenance by suspending for depositing, withdrawaling, and trading.

Some sources say hackers stole $450 million ETH. Attackers have started transferring funds from Ethereum wallets to exchanges and mixers in order to launder money. As revealed, 0xA14d5DA3C6BF2D9304FE6D4BC6942395b4dE048b could be the hacker’s Ethereum address. You can see the money was transferred here from the Bilaxy exchange on August 28, 2021, at 01:19:55 am. Some sources say that this appears to be an insider attack.

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