BlueBenx speaks out about blocked withdrawals; money will be returned from 2023 – Money Times

(Image: Unsplash/Lewis Kang’ethe Ngugi)

The investment platform in crypto assets BlueBenx announced, last Thursday (11), that it would stop the withdrawals of its users. Without being able to contact the company, customers were worried about a possible coup by the operator.

This Wednesday (17), the broker BlueBenx released a press release about the incident.

The allegation of company is that it had been the victim of an “extremely aggressive” hacker attack, however the company, until now, had not given any details on how the alleged attack would have happened.

The wording of Crypto Times reached out to one of the injured customers through a public group on Telegram and heard his side of the story in this matter.

In a statement, BlueBenx says it was the target of scammers who “posed as representatives of a crypto exchange in the midst of a listing transaction for its own token, the Benx.”

In fact, the BENX token even launched and melted 99% shortly after, estimating a loss of over $200 million.

Between July 25th and 26th, the token melted by 99%, from $0.22 to $0.0002.

bluebenx hacker benx

On July 26, the token broke the transfer record: there were 3,847 transfers of more than 457 million BENX to 315 unique addresses, according to BNBscan – BNB Smart Chain’s block explorer.

bluebenx hacker benx

It is not possible to determine with certainty who the issuer of the cryptocurrencies is.

But according to BlueBenx, the alleged scammers disguised as representatives demanded a payment of $200,000, in addition to sending 25 million units of the Benx token, as a requirement to list the asset on the cryptocurrency trading and trading company.

“After payment and sending the tokens, security practice and validation common between operations, the false representative of the institution captured the values ​​​​and carried out thousands of transactions to withdraw liquidity in the pools where the company kept its token listed on DeFi [finanças descentralizadas]leading to an outflow, in minutes, of all the liquidity of the assets invested in BlueBenx Finance, including USDT reserve funds.”

However, to this day, exchange negotiations between BENX and tokens such as BUSD are still taking place – stablecoin from BNB Chain -; Position Token (POSI) and USDC.

bluebenx hacker benx

Layoffs of BlueBenx Employees

Because of this situation, BlueBenx said it had taken “unpopular measures” and, as a “safety order” and “guarantees for investors”, carried out the dismissal of part of the employees and suppliers with privileged access, as a way of limiting access to the bills.

As in the previous article, the customer affected by the situation – who asked the Crypto Times to remain anonymous – one of the company’s employees – whom he went to ask for help – said he had been fired.

“This decision was made so that the Crisis Management Committee could carry out investigations of internal and external processes without any conflicts of interest. In addition, the company gave up its headquarters and physical assets in order to comply with its legal and contractual obligations with its customers.”

The broker’s current plan, according to the company itself, has become to “give guarantee, security and reliability on the amounts invested by investors and tokenize all available assets”.

This includes remaining balances and amounts that will be received through the negotiation of the company’s assets, such as software, equipment and other assets, according to the statement.

“As soon as these amounts are collected, the company will use them to fulfill all obligations with customers and the market.”

BlueBenx also says that out of more than 25,000 customers, only 2,500 were affected by the blow.

“The recovery plan provides that these customers will be able to redeem their applications from 2023 onwards. At the moment, the company has a team of 11 people who are working day and night to honor all their commitments.”

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Money Times publishes informative articles of a journalistic nature. This publication does not constitute an investment recommendation.

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