We are proud to be part of BitColors ecosystem, a unique collection of 1000 NFT colors that you can own and trade on OpenSea. BitColors aims to create something unique in the NFT space and set an example for a new wave of collections like CryptoPunks did for avatars. Colors for our logo we took from the BitColors collection. Ownership of colors should be remarkable and unprecedented and you have a chance to buy it now. Want to follow their updates? Then subscribe to BtColors Twitter, and Discord.
Crypto exchange Bilaxy loses over $21 million in DeFi exploit
Crypto News

Crypto exchange Bilaxy loses over $21 million in DeFi exploit

Saudu Clement
Saudu Clement

Hong Kong-based crypto exchange Bilaxy has lost over $21 million after hackers hijacked a hot wallet on its platform on Sunday, Aug. 29.

The exploit, which saw the transfer of 295 ERC-20 tokens (worth over $21 million) to a single wallet, is the 20th DeFi attack within the month.

HOGE, one of the tokens listed on Bilaxy, took to Twitter to announce that all of its tokens on the crypto exchange had been transferred by the attacker. This caused its token price to dip by 35%.

Bilaxy has moved the remaining unstolen tokens to a cold wallet. The company has also suspended visitors from accessing its website for temporary system maintenance. Similarly, withdrawal functions have been frozen and users have been advised not to transfer tokens into the exchange for the time being.

The exchange is expected to spend at least two weeks investigating the incident and rebuild the system architecture. A professional team has been contacted to investigate and recover the stolen assets.

According to SlowMist, there have been 21 hacking incidents this month alone. The audit company reported losses of more than $90 million within the period.