Bilaxy exchange hacked, users urged to halt deposits

TL;DR Breakdown Hackers hit Bilaxy exchange .Close to $400m allegedely stolen after exchange hack.Continuous exchange hack puts future of crypto exchange under serious threat. Based in the African continent, East African Bilaxy exchange becomes the most recent crypto exchange to be hacked. This is as crypto exchanges continue to fall victim, as hackers keep targeting them. Bilaxy exchange announced on Saturday, August 28, that some of its wallets were compromised. “Top Urgent-Bilaxy Hacked Notice Pls note Bilaxy Hot wallet was hacked, pls DON’t send any funds to your bilaxy accounts again. We are racing with the time to checking and fixing. Pls wait for further notice, it wrote on its official Telegram channel. It posted the same message on its Twitter page also on Sunday. Bilaxy exchange, however, failed to confirm the amount stolen yet. Some estimations claim that it could be around $450 million in various cryptocurrencies. After its notice on Sunday, the exchange has not provided any other concrete update except brief updates on Telegram that the team is working to resolve the problem and that users should not be worried. The exchange website has also been down since the time of the attack. According to HogeFinance on Twitter, all HOGE tokens stored on Bilaxy were already drained and sent to another wallet. Those tokens have a value of just under $22 million. Other rough estimates showed that the total amount s...