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Bilaxy Exchange Hot Wallet Hacked, Users Express Anger

Bilaxy Exchange Hot Wallet Hacked, Users Express Anger
  • Bilaxy Exchange has just shared on its Twitter that it has suffered a hack.
  • Its Twitter community responded by saying that they need to apply better security.
  • Many of its users are blaming it for causing today’s falling prices of crypto.

TODAY: Bilaxy Exchange has just issued an urgent notice warning on its official Twitter. The exchange has stated that it has suffered a hack.

Early today, Bilaxy shared on their Twitter account that the Bilaxy Hot Wallet was hacked. As per the team, they are “racing with the time” for checking and fixing the hack. The exchange’s users however seem very disgruntled by the news.

As a result, many users called for exchanges to implement better security measures:

Same days ago hotbit hack, poly network hack, lequed hack now bilaxy hack pls improve your security.” — User @BalaAlock

You are not improving security because in case of hacking your users will lose funds not you.” — User @Sumitsh13537999

At the same time, a lot of users blamed the exchange for today’s fallen prices of crypto. As of now, Bitcoin’s price stands at $48,551, down 0.75% in the past 24 hours.

Please increase your security otherwise trading on your exchange will decrease.” — User @multan_urdu

Since the hack announcement, Bilaxy’s website is down for ‘maintenance, while its Telegram is blowing up with people’s questions and angry outbursts. The company is a Seychelles-based international cryptocurrency exchange that claims to have hundreds of thousands of traders from more than 80 countries all over the world. However, its lack of transparency has led many to write it off as a trustworthy company.

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Lisa is excited about all things tech. She devotedly follows blockchain and crypto updates, sharing her passion through writing about it. She is a regular contributor for cryptocurrency news and articles.