BingX has announced that operations have returned to normal on its crypto exchange following a recent hack. However, some users have raised concerns about unresolved issues related to the KOKO cryptocurrency.

Platform Recovery Post-Hack

Vivien Lin, BingX’s Chief Product Officer, stated that the digital asset trading platform has resolved most issues stemming from the hack last month. Lin confirmed that several chains have resumed deposit and withdrawal support, with the platform successfully recovering over 700 tokens since the incident on September 20.

Details of the Hack

In late September, hackers stole approximately $43 million in cryptocurrencies, including Ethereum and Binance Coin, from BingX’s hot wallet. The Singapore-based exchange temporarily paused withdrawals to address the breach and has promised full compensation to affected users. The firm also relocated user assets to secure locations to prevent further losses.

User Concerns About KOKO Token

While many users praised BingX’s quick response to the security breach, some have highlighted ongoing issues with the KOKO token, issued by a project named Koala AI VIP. It remains unclear if KOKO is associated with the AI content generator Koala AI.

AndraΕΎ Novljan, a team member of Koala AI VIP, claimed that BingX has not responded to inquiries regarding the KOKO token or compensating its holders. Requests for comments sent by crypto.news were unanswered at the time of publication.

Sounds good, but when are you going to take care of $KOKO from @BingXOfficial hack from a couple of weeks ago? We’ve been progressing really nicely until you started ghosting us. Not a good look for your exchange nor your partners. Lots of investors were hurt…

Impact of the Hack

The BingX hack was one of the largest exploits last month, with hackers stealing over $120 million from various cryptocurrency protocols in September. A report by PeckShield revealed that platforms like Penpie and Indodax were also targeted by cybercriminals.

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