After theft of $77.7 million, crypto platform AscendEX to reimburse customers

Crypto platform AscendEX has pledged to reimburse their customers, who lost a total of $77.7 million in a hack on December 11.

In a series of Tweets, the company said it is in the process of “standing up a new hot wallet infrastructure” and estimated that deposits and withdrawals would resume over the next two days. 

“Doing right by our customers is our obligation. Any impacted customers will be 100% reimbursed for their losses. Especially in the cryptocurrency industry, where community is the driving force of innovation, it is important for AscendEX to always remain true to our users,” the company said

“We plan to resume withdrawals gradually, beginning with Ethereum. Any user that wishes to withdraw their assets will be permitted to do so in an uninterrupted capacity once withdrawals reopen for the particular coin or token.”

Blockchain security company PeckShield estimated that $77.7 million in total was taken across three chains: $60 million from Ethereum, $9.2 million from Binance Smart Chain, and $8.5 million from Polygon.

The hack began on Saturday at 5pm EST when the company saw a number of unauthorized transfers from one of their hot wallets. The cold wallets were unaffected, and the company transferred all other assets there

Read More: https://www.zdnet.com/article/after-77-million-hack-crypto-platform-ascendex-to-reimburse-customers/#ftag=RSSbaffb68