After the major hacking incident on its platform’s ERC-20 hot wallet, Bilaxy exchange suspended its website.
This comes as the emergence steps by Bilaxy in moving hundreds of assets from its hot wallet to cold wallets for added security.
The firm updated this through its official Telegram. On the social media platform, Bilaxy asked its customers to stop deposits on the exchange platform. However, there are no additional details on the exchange’s website as it only shows temporary system maintenance and just a link to its official Telegram channel.
Note that the exchange was hacked on August 28 between 6 p.m. and 7 p.m. UTC through the transfer of 295 different ERC-20 tokens. Moreover, the hacker transferred the tokens to a single address. However, the recent transaction is about 50 ETH worth $159,000 on August 30.
According to last rumors, Bilaxy exchange loss is about $450 million. Also, Hoge Finance, a decentralized finance (DeFi) protocol, reported that the Bilaxy hack involved transfers of about 300 digital assets.
In addition, the assets hold USD Coin (USDC), Uniswap (UNI), Tether (USDT), and many others. Aside from this, Hoge Finance revealed that about 1 billion HOGE coins ($22 million) deposited on the Bilaxy platform had been moved to another wallet.
Even more, Bilaxy did not yet reply to comments. But it ensured the customers of its collaboration with law enforcement and security institutions.