Bilaxy, a Seychelles-based cryptocurrency exchange, announced on Sunday that its Ethereum ERC20-based hot wallet has been hacked, resulting in a massive loss.

Although the “Bilaxy” trading platform is less well known, the hack could be one of the biggest hacks seen in the industry.

Bilaxy has not officially disclosed the extent of the hack, but according to several estimates, the hackers stole about $450 million in cryptocurrency.

Cryptocurrency exchange “Bilaxy” offers some details:

Bilaxy first reported the hack on its Telegram channel, explaining that it experienced a serious hack between 6pm and 7pm UTC on August 28.

Additionally, it revealed that the hackers moved 295 different ERC20 cryptocurrencies from the wallet.

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The cryptocurrencies that have been stolen include:

Tether (USDT), (USDC), (UNI) and others…

As an emergency measure, the cryptocurrency exchange has suspended activities on its platform and moved hundreds of cryptocurrencies from their hot wallets to their cold wallets.

The investigation continues:

The cryptocurrency exchange is now investigating the attack and has shared the address of the hacker to whom the funds were transferred.

According to the blockchain data, the address referred to by the platform contains 100 Ethereum, valued at about $320,000 at the date of the article.

The project management of Hoge Finance, an Ethereum-based decentralized finance protocol, reported that nearly 1 billion HOGE cryptocurrencies were hacked in the Bilaxy hack by the attacker.

The value of these cryptocurrencies withdrawn is approximately $22 million.

Cryptocurrency exchanges and hot wallets have always been targets for cybercriminals.

The industry has been facing attacks since the early days of Bitcoin.

Recently, the attackers hacked the Japanese cryptocurrency exchange, Liquid.

In another incident, the Poly Network project suffered a $611 million hack, but the hacker later returned most of the stolen money.

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This morning, we also reported in the Arab Bitcoin that a project was subjected to a theft and hacking, with a value of more than 18 million dollars.

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