AscendAE, which is based in Singapore and was previously known as Bitmax, announced that they got hacked – apparently a hacker gained access to one of their hot wallets and made off with some 77 million US dollars.
According to a statement by the company, the exchange then transferred assets that were not affected by the hack to cold wallets and began an investigation. They also assured everyone affected by this breach in security that they would be fully compensated.
They also stated that they detected a number of unauthorized transactions from one of its hot wallets on December 11th.
Source
That is quite unfortunate and it once again highlights one of the major drawbacks of the crypto industry - poor security.
According to a statement by the company, the exchange then transferred assets that were not affected by the hack to cold wallets and began an investigation. They also assured everyone affected by this breach in security that they would be fully compensated.
They also stated that they detected a number of unauthorized transactions from one of its hot wallets on December 11th.
Source
That is quite unfortunate and it once again highlights one of the major drawbacks of the crypto industry - poor security.
