Crypto exchange BingX’s product chief Vivien Lin has confirmed there was a hack and a “minor asset loss,” which is still being calculated.

The Singapore-based crypto exchange BingX has confirmed it suffered “minor asset loss” after a wealth of “suspicious” outflows from one of its hot wallets was noticed online.

BingX chief product officer Vivien Lin said in a Sept. 20 X post that the BingX technical team “detected abnormal network access” at around 4 am Singapore time and suspected a “hacker attack on BingX’s hot wallet.”

“We immediately started our emergency plan, including the urgent transfer of assets and [withdrawal] suspension,” Lin added.

She said BingX stored a minimal amount of crypto in its hot wallets and that “there has been minor asset loss, but the amount is small and still being calculated.”

Blockchain security firm PeckShield had earlier posted on X that it observed a “suspicious significant fund outflow” from BingX totaling over $13.5 million, while analytics platform Lookonchain reported losses of $26 million.

Lin added the exchange has temporarily suspended withdrawals while it conducts an “emergency inspection and [strengthens] wallet services” and expects withdrawals to be restored within 24 hours.