BingX restores full operations and introduces “ShieldX” for enhanced security

VILNIUS, October 24, 2024 — BingX, one of the leading cryptocurrency exchange platforms globally, has fully restored its operations following a recent incident involving its hot wallet. Deposits and withdrawals are back to normal, and the platform has announced the launch of “ShieldX,” an integrated plan to enhance the platform’s security infrastructure.

The “ShieldX” project introduces an updated firewall for the portfolio, designed to offer advanced protection against external threats and ensure greater security of users’ assets. Additionally, BingX has partnered with major cybersecurity companies to implement continuous monitoring and a threat detection system, to promptly identify and address any vulnerabilities.

In addition to updates in the firewalls and external collaborations, BingX will undergo frequent and rigorous security audits by independent agencies. The platform will also launch a rewards program for “ethical” hackers, incentivizing security researchers to identify any vulnerabilities, thus demonstrating the commitment towards constant improvement.

With this new initiative, BingX reaffirms its position as a leader in the cryptocurrency sector, prioritizing user security. The project not only strengthens protection measures but also underscores the platform’s long-term commitment to transparency, resilience, and innovation, adapting to the ever-evolving challenges of the sector.

Vivien Lin, Chief Product Officer of BingX, emphasized the importance of the platform’s rapid recovery and the ongoing commitment to user security.

“We are pleased to confirm that our platform has not only returned to normal operations but has been further enhanced to a level of performance superior to before the incident. BingX’s rapid response demonstrates our dedication to protecting users’ assets, with confidence, efficiency, and transparency at the core of our approach. The launch of ‘ShieldX’ represents a crucial step in proactively strengthening our platform’s defenses,” stated Lin. “Our priority remains ensuring a secure environment for all users through continuous improvements and strategic partnerships. Furthermore, we are committed to collaborating with industry leaders to raise security standards in the crypto ecosystem.”

About BingX

Founded in 2018, BingX is one of the leading cryptocurrency exchange platforms in the world, with over 10 million global users. BingX offers a diverse range of products and services, including spot trading, derivatives, copy trading, and asset management, designed to meet the needs of users at every level, from beginners to professionals. BingX is committed to providing a reliable platform, equipped with innovative tools and features to enhance users’ trading skills. In 2024, BingX became the main partner of Chelsea FC, marking an exciting debut in the world of sports.

For more information, visit: bingx.com