The crypto exchange BingX recently suffered a major hack, losing approximately $42 million in assets. Blockchain security firm PeckShield identified suspicious transactions, with stolen funds primarily converted to Ethereum (ETH) and Binance Coin (BNB). BingX has temporarily suspended withdrawals to address the breach and announced plans to compensate affected users. The attack targeted the exchange’s hot wallets, highlighting ongoing vulnerabilities in crypto platforms amid a rise in sophisticated hacking incidents.