AscendEX crypto exchange assures that they will give compensation for the recent hack

Cryptocurrency exchange AscendDEX confirmed that they will give all the funds to their users, who lost the funds in a recent hack. 

On 11 December, the AscendEX crypto exchange faced a hack attack and lost around $77 million worth of crypto assets. 

According to the investigation of blockchain security tracking company, Peckshield, Hackers drained crypto funds from the hot wallets of the AscendEX exchange. In the hacked funds, the majority of the assets were ERC-20, Binance Smart Chain, and Polygon tokens with a total value of $77 million. 

it presents all the crypto deposits and withdrawals are stopped because the project team is working to ensure all safety with the elimination of bugs that resulted in such big losses. 

Victim exchange said that they will give funds to all users, who lost their funds in the recent hack attack. And also will soon resume withdrawal and deposit of crypto assets on the platform. 

AscendEX exchange didn’t provided clarity on how and why this hack attack took place, but still, they are working on it to fix the bug. And also didn’t reveal the exact figures that exchange lost in this hack attack, however, Ethereum scan explorer gave also the details of the transactions and traces. The exchange confirmed only one main thing, that is, no attack on the cold wallet and that is fully unaffected. 

Three hacking attacks in the crypto industry, within 15 days 

In the last 15 days, around three major hack attacks took place in the crypto industry and this is much shocking that not only decentralized exchanges but also centralized exchanges faced attacks.

Before AscendEX, the Bitmart exchange faced a hacking attack and lost around $200 million worth of crypto assets. Now Bitmart is again on the line to provide its crypto services. 

Before the Bitmart crypto exchange, BadgerDAO faced a hacking attack. And in the hacking attack, Celsius only lost around $55 million worth of wrapped bitcoins. 

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