In-depth case study, Bit Jungle security company confirms the $139M BXH Exchange heist, with information and evidence that leads to external attack – Crypto Trendings
Tuesday, March 28, 2023
Crypto Trendings
  • HOME
  • News
  • Bitcoin
  • Altcoins
  • Business
  • Tech
  • Industry
  • Interviews
  • Press Release
No Result
View All Result
Crypto Trendings

In-depth case study, Bit Jungle security company confirms the $139M BXH Exchange heist, with information and evidence that leads to external attack

Crypto Trendings by Crypto Trendings
April 27, 2022
in Press Release
Reading Time: 3min read
In-depth case study, Bit Jungle security company confirms the $139M BXH Exchange heist, with information and evidence that leads to external attack

Last year, the decentralized protocol BXH (Boy-X-Highspeed) on Binance Smart Chain, was attacked by hacker(s), more than 139 million USD value of tokens were stolen. This is the second-largest heist in the history of DeFi industry.

Due to the size and the significance of this heist, many top security companies and the local authorities intervened in the investigation. In March 2022, a top blockchain security company, Bit Jungle published their findings with a Case Investigation Report: “In the case of the theft of the BXH tokens, no clues have been founded within the (internal) BXH team, there are high-value evidence that leads to third-party hacker(s) have been founded”, said Mr. Eric the founder of Bit Jungle.

Related posts

Exclusive “The Starry Night Licensed NFTs” To Release  In 3D and Augmented Reality on ElmonX

Exclusive “The Starry Night Licensed NFTs” To Release In 3D and Augmented Reality on ElmonX

March 24, 2023
Dominator Domains, a Web3 innovative platform where users can register domains in 3 different blockchains and 10 different domain extensions

Dominator Domains, a Web3 innovative platform where users can register domains in 3 different blockchains and 10 different domain extensions

March 23, 2023

This incident caused a massive wave in the DeFi industry on the viral topic of security and risk management. Eric learned about this hacking case from social media and decided immediately to launch an investigation. At that time, already more than ten blockchain security companies were also investigating this case.

“Using security and blockchain data to speak, is the key in solving the BXH incident,” said Mr. Eric. During the BXH investigation process, the management of the BXH project and the private key management cooperated with the investigations and provided important clues to the root-cause of the security breach.

At present, the progress of the case is in full cooperation with the local authorities’ investigation. The root-cause analysis of several security companies showed that the theft of BXH may be the result of a third-party security attack. There is no doubt that there need to be improvements in the security policy of the private key management of the BXH project, and the “high-value evidence to a third party” discovered during the Bit Jungle investigation which leads to a serious crime. “There have been many hacking incidents in the DeFi industry recently, and security concerns are becoming a high priority. Bit Jungle is confident and capable, where we will do everything and our best to find the truth of the BXH theft incident,” said Mr. Eric.

Solving a hacking theft case is a very difficult and long process. Worldwide hacking professionals are frequently involved in digital asset theft cases. These cases are exceedingly complicated and difficult to detect and solve. BXH management reacting quickly to deal with this heist, offering $1M bounty with to anyone that offer information that points to the hackers and help retrieve the funds. Bit Jungle expects the awareness of the $1 Million bounty program will help identify the hackers and possibly retrieve the BXH. This substantial bounty program is one of the BXH management responsibility to raise awareness of security hacks and heists in the DeFi industry.

Bit Jungle is a global blockchain security company focusing on blockchain security research. They are the pioneer of blockchain security technology. The Bit Jungle services cover, security event traceability, smart contract audit, security assessment, and other related security services. Bit Jungle has recovered major digital asset losses for many blockchain industry leaders in the past three years.

April 27, 2022 

Bit Jungle

Bit Jungle – Case Investigation Report:

BXH

[email protected]

Previous Post

AFRICAN POST PLAN TO SET BLOCKCHAIN DIGITAL IDENTITY IN AFRICA

Next Post

Launch of ‘Baby Shark BubbleFong Friends’ Coming Soon, Pre-Registration Opens for Users Worldwide

Next Post
Launch of ‘Baby Shark BubbleFong Friends’ Coming Soon, Pre-Registration Opens for Users Worldwide

Launch of ‘Baby Shark BubbleFong Friends’ Coming Soon, Pre-Registration Opens for Users Worldwide

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

RECOMMENDED NEWS

X10 Legends Battle version Strategy Guide

X10 Legends Battle version Strategy Guide

1 year ago
INTERSTELLAR: Connecting Global Users and Digital Assets, Building A Full-Scenario Blockchain Ecological Cluster

INTERSTELLAR: Connecting Global Users and Digital Assets, Building A Full-Scenario Blockchain Ecological Cluster

2 weeks ago
Neurogress fast forwards the future in response to COVID 19

Neurogress fast forwards the future in response to COVID 19

2 years ago
sceletium

The Sceletium Source is Partnering With the Elyseos Ecosystem

2 years ago

BROWSE BY CATEGORIES

  • Altcoins
  • Bitcoin
  • Business
  • Industry
  • News
  • Press Release
  • Tech

BROWSE BY TOPICS

Altcoins Bitcoin Business Industry News Press Release Tech

POPULAR NEWS

  • Flush Win is Revolutionizing Online Casinos and Betting with Blockchain Innovations

    Flush Win is Revolutionizing Online Casinos and Betting with Blockchain Innovations

    0 shares
    Share 0 Tweet 0
  • A ONCE IN A LIFETIME OPPORTUNITY TO OWN A PIECE OF HISTORY AND PUT YOUR NAME INTO THE METAVERSE

    0 shares
    Share 0 Tweet 0
  • FLUSH WIN ANNOUNCES NFT GAME PROJECT AND CITY CASINO

    0 shares
    Share 0 Tweet 0
  • The Mercedes Benz G-Wagon, Jungkook’s beloved car from BTS, is up for auction

    0 shares
    Share 0 Tweet 0
  • While all crypto is bearish, YES WORLD Token Price jumped by 10% in 24 hours

    0 shares
    Share 0 Tweet 0
Crypto Trendings

We bring you the latest news in the crypto and finance industry. We envision the goal of completely decentralised future.

Reach us at:

[email protected]

BITCOIN NEWS

Expert Reveals “Best Bets” Against Impending Economic Collapse

Expert Reveals “Best Bets” Against Impending Economic Collapse

July 28, 2022
Meta A Bigger Threat For Crypto Crash Than The Fed, Here’s Why

Meta A Bigger Threat For Crypto Crash Than The Fed, Here’s Why

July 27, 2022
Why UST’s crash has experts talking and taking different sides

Why UST’s crash has experts talking and taking different sides

May 16, 2022

ALTCOIN NEWS

Ethereum price faces resistance at $650, can ETH break above?

Ethereum price faces resistance at $650, can ETH break above?

December 21, 2020
New withdrawal mechanism for ETH2 stakes ‘under discussion’

New withdrawal mechanism for ETH2 stakes ‘under discussion’

December 15, 2020
Ethereum King Buterin Loses Live Showdown to Twitch Chess Queen

Ethereum King Buterin Loses Live Showdown to Twitch Chess Queen

December 16, 2020
March 2023
M T W T F S S
 12345
6789101112
13141516171819
20212223242526
2728293031  
« Feb    
  • About
  • Advertise
  • Careers
  • Contact

© 2020 Crypto Trendings

No Result
View All Result
  • Home
  • Industry
  • News
  • Business
  • Bitcoin
  • Interviews
  • Tech
  • Altcoins

© 2020 Crypto Trendings