Crypto exchange AscendEX has temporarily disabled deposits and withdrawals after suffering a security hack last weekend when cyberattackers transferred an estimated $77 million worth of tokens out of the exchange's <a href="https://www.cryptoknowmics.com/glossary#hot-wallet/hot-storage">hot wallets</a>.
<h2><strong>AscendEX is the Latest Crypto Exchange to Suffer a Hack</strong></h2>
AscendEX cryptocurrency exchange reported a security breach caused by a hack attack from the exchange’s hot wallets. While the exchange has not released numbers on the attack, Peckshield, a security and blockchain auditing company, examined the hack and estimated the losses at around $77 million.

According to the company, the assets were taken across three blockchains with $60 million on Ethereum, $9.2 million on Binance Smart Chain, and $8.5 million on Polygon (formerly Matic). Peckshield provided a detailed report of which tokens were stolen and how much was stolen in each token.

https://twitter.com/peckshield/status/1469915194004766722?s=20

Regarding the hack, Ascendex issued a statement and informed the public about the actions it will take after the hack.

Firstly, Ascendex will reimburse all of the funds stolen for the affected users, as it declared that “the impacted assets are a relatively small percentage of total exchange assets.” The exchange transferred the nonimpacted assets to its cold wallets and has since suspended withdrawals for its customers.

Secondly, it will investigate how this happened and who might be the party behind it. The company informed it is already working with blockchain forensic firms and law enforcement to ascertain what really happened and to block the stolen funds from being freely transferred between exchanges.

https://twitter.com/AscendEX_Global/status/1470029513551761412?s=20
<h2><strong>Bitmart Suffered Security Breach Last Week</strong></h2>
The AscendEX hack is the second crypto exchange to get hacked in the last week. On Dec. 5, hackers transferred about $196 million of tokens from <a href="https://www.cryptoknowmics.com/news/hackers-steal-200-million-from-bitmart-crypto-exchange/">the Bitmart crypto exchange</a> after stealing a private key that opened two hot wallets.

https://twitter.com/sheldonbitmart/status/1467722437735428098

The crypto hackers transferred $100 million worth of cryptocurrencies on the Ethereum blockchain and $96 million on <a href="https://www.cryptoknowmics.com/news/with-code-to-inspire-binance-supports-young-women-in-tech-education/">Binance</a>. Regarding this, BitMart said that it will compensate users who lost tokens from the hack.

Crypto Exchange AscendEX Suffers a Hack of $80 Million Hosted Via Hot Wallets

Crypto exchange AscendEX has temporarily disabled deposits and withdrawals after suffering a security hack last weekend.

Jafrin is a cryptocurrency journalist/researcher fascinated by the world of decentralization. She is hopeful towards blockchain’s innovation and its potential to reshape the world for good. Currently, she is bringing out the best of cryptosphere via covering the latest ins and outs of the blockchain space.

Crypto Exchange AscendEX Suffers a Hack of $80 Million Hosted Via Hot Wallets

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