Cryptocurrency exchanges

Crypto Exchange AscendEX Hacked, Losses Estimated At $77M

Cryptocurrency exchange AscendEX suffered a hack for an estimated $77 million following a breach of one its hot wallets.

  • Assets not affected have been transferred to cold wallets while the investigation is carried out, the exchange added.

  • The largest share of the $77 million was accounted for by the relatively minor taraxa (TARA) with $10.8 million, while the combined shares of stablecoins USDT and USDC accounted for $10.7 million.

  • The Singapore-based exchange, which was formerly known as BitMax, claims to serve one million institutional and retail clients. It recently raised a $50 million Series B led by Polychain Capital and Hack VC.

Jamie Crawley is a CoinDesk news reporter based in London.

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Jamie Crawley is a CoinDesk news reporter based in London.

Source: https://www.coindesk.com/business/2021/12/13/crypto-exchange-ascendex-hacked-losses-estimated-at-77m/

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