Silke Mayr Vilnius, Lithuania, October 24, 2024 – Chainwire
BingX, a leading global cryptocurrency exchange, has fully resumed its operations following a recent incident involving its hot wallet. All deposit and withdrawal functions are now back to normal. In response to this event, BingX is introducing its new initiative, “ShieldX,” which aims to significantly enhance the platform’s security framework.
The “ShieldX” program features an upgraded wallet firewall that offers advanced protection against external threats, ensuring greater safety for user assets. Additionally, BingX has partnered with top third-party security firms to provide 24/7 monitoring and threat detection, allowing for quick identification and resolution of any vulnerabilities.
Alongside improved firewalls and strategic partnerships, BingX will implement regular, thorough security audits by independent agencies. The exchange is also launching a new hacker bounty program, incentivizing security researchers to identify potential vulnerabilities and reinforcing its commitment to ongoing improvement.
With this new cybersecurity initiative, BingX reaffirms its position as a leader in the cryptocurrency sector, prioritizing user safety. “ShieldX” not only boosts security but also underscores the exchange’s dedication to transparency, resilience, and innovation in response to evolving cybersecurity challenges.
Vivien Lin, Chief Product Officer at BingX, highlighted the importance of the platform’s swift recovery and commitment to user security. “We are pleased to announce that our platform has not only returned to normal operations but has also been significantly enhanced beyond its previous performance level. BingX’s rapid response showcases our dedication to protecting user assets, with trust, efficiency, and transparency at the core of our mission. The launch of ‘ShieldX’ represents a crucial step in proactively fortifying our platform’s defenses,” Lin stated. “Our priority is to ensure a secure environment for all users through continuous enhancements and strategic collaborations. We are also committed to working with industry leaders to elevate security standards across the crypto ecosystem.”
About BingX
Founded in 2018, BingX is a premier cryptocurrency exchange serving over 10 million users worldwide. The platform offers a range of products and services, including spot trading, derivatives, copy trading, and asset management, tailored to meet the diverse needs of users from beginners to professionals. BingX is dedicated to providing a reliable platform that empowers users with innovative tools and features to enhance their trading experience. In 2024, BingX proudly became the principal partner of Chelsea FC, marking an exciting foray into the world of sports.