Crypto exchange AscendEX reports theft, possibly 69 million euros of crypto stolen

Crypto exchange AscendEX says it had a ‘security incident’ this weekend, in which unauthorized transactions were carried out. It is estimated that 69 million euros worth of cryptocurrency has been stolen. AscendEX says it will compensate all customers.

It is not yet clear what kind of attack took place; AscendEX says it is still investigating the cause. According to the company, the crypto coins were stolen from one of the exchange’s hot wallets. To track the stolen crypto, the exchange is working with police forces and “blockchain tracking companies.” The stolen cryptocurrencies were sent to ERC-20, Polygon, BSC and xDAI wallets.

Blockchain Security Company PeckShield says on Twitter that an estimated $77.7 million worth of crypto has been stolen. It would be $ 60 million Ethereum, 9.2 million Binance Smart Chain and 8.5 million Polygon.

The crypto exchange says it will compensate all affected customers and has made it impossible for the time being to deposit or withdraw on the exchange. AscendEX wants to make this possible again ‘as soon as it is completely safe’. Trading, staking and yield farming services will still be available.

AscendEX is based in Singapore and was previously known as BitMax. At the beginning of this year, the company changed its name. The fair claims to have a million customers.