Bilaxy a Hongkong-based crypto exchange suffered a loss of $21 million after its hot wallet was hacked by some hackers around the world. There was a transfer of 295 ERC-20($21 million) tokens to a single wallet and some reports show that this is the 20th defi attack within a month. Bilaxy exchange on Twitter made an official announcement informing the people not to send any funds to their bilaxy account. The users are also not allowed to withdraw as withdrawal is frozen.
One of the tokens listed on bilaxy stated on Twitter that the majority of its tokens on crypto-exchange has been transferred by the hacker causing a dip of 35% in its token price.
The @Bilaxy_exchange has been hacked. All HOGE being stored inside was transferred from their hot wallet. Please reach out to Bilaxy for further information regarding your account.
— HOGE (@HogeFinance) August 29, 2021
The remaining part which remained un-stolen was moved to a cold wallet. Due to the temporary system maintenance, the visitors are also temporarily suspended to visit the website. It is considered that at least two weeks’ time is required to rebuild the architecture and to investigate the attack. A team of professional experts has been contacted to study and investigate the attack and recover the stolen funds as soon as possible. According to Slow Mist already 21 hacking attacks have taken place this month.
A Japanese cryptocurrency exchange LIQUID was also hacked which suffered a loss of more than $90 million and the funds are yet to be returned but Liquid borrowed a sum of $120 million from another exchange named FTX to make up for the loss. On the other hand, Solana also suffered an attack on August 19. No funds were stolen by the attacker but there was a miscalculation in the funds of five users due to which the total calculated loss was $16,000.
One of the biggest crypto heists took place on 11 August when the hackers attacked the Poly network. Poly Network disclosed the attack and requested the attackers to return the hacked asset. More than 600$ was stolen from the Poly network. On one strange day the hackers returned some of the amounts, the hackers stated that they were to return on which the poly network replied with three crypto addresses.