AscendEX Crypto Exchange Hacked for $77 mln

[mlawson71]

AscendAE, which is based in Singapore and was previously known as Bitmax, announced that they got hacked – apparently a hacker gained access to one of their hot wallets and made off with some 77 million US dollars.
According to a statement by the company, the exchange then transferred assets that were not affected by the hack to cold wallets and began an investigation. They also assured everyone affected by this breach in security that they would be fully compensated.
They also stated that they detected a number of unauthorized transactions from one of its hot wallets on December 11th.
Source
Such hacks and scams are one of the biggest drawbacks of the cryptocurrency industry, unfortunately.

[Edward Frank]

It is sad to hear, reason I trade on Dex or use Cex that i'm confident of their security, my top rated exchange currently is Bitay from Estonia but headquartered in Turkey. Their security features are top notch, they have a robust security mechanisms, 95% of assets stored in offline devices and they are certified under ISO 27001 Information Security and ISO 9001 Quality systems