Dear BingX Users and Partners,
First of all, thanks for your constant attention and support for BingX.
We’re so happy to have this opportunity to communicate with everyone through this letter to explain why BingX has been attacked recently, and our plans for the future development of BingX.
BingX was established in 2018. It has been more than two years already! In just over two years, we have covered 37 countries and regions in Asia, Europe, North America and Oceania.
For this achievement, we have to give thanks to all of you, including our users, partners, investors and competitors.
Recently, we have been thinking about the original intention of BingX. The BingX team adheres to a motto: creating a fair and just trading environment for all users. We hope more and more people will recognize the digital asset derivatives market, and will be able to participate in trading and investing in a simple and transparent way. We are committed to creating the most safe, stable, fair, just, convenient and efficient trading service platform in the industry.
Response to this Attack
However, it has not been easy for us. In June, when the BingX team was working as normal, there was a sudden influx of anonymous WeChat accounts flooding the community and spreading rumors, including terms like “exit scam”. These accounts "successfully" created a negative public opinion of BingX.
In order to reassure all users, partners and investors, we think it is necessary for us to explain to you:
Throughout the steady development of BingX, we have found that there are unknown organizations orchestrating DDoS attacks against BingX for consecutive days, causing users trading to be affected on the BingX platform. After investigation, we have found that these attacks were coordinated by our competitors, a result we were least willing to believe.
As can be seen from the data in the figure below, we were subjected to intense DDoS attacks from June 8 to June 18. On June 17, an organization purchased a 2 TB DDoS attack. However, our technical team is online 24 hours a day, and solved the problem as quickly as possible when it occurred, returning to normal operation.
Some competitors saw that DDoS attacks didn’t work against BingX, so they began to hire a large number of bot accounts to spread rumors in the community. This has given us a warning, and we will invest more energy into preventing these attacks, at the benefit of the entire industry.
Future Improvements and Prospects
We will continue to improve our product development and research capabilities, and give users a better product experience.
At present, our energy is mainly divided into three parts.
First, security and privacy. As an international platform, we put user security and privacy first, and we deeply understand the importance of security. At present, we have reached in-depth cooperation with security companies such as SlowMist to provide users with a more secure experience.
Second, product development and research. We are not particularly satisfied with our products. We hope to provide users with better and better products over time.
Third, global compliance operation, which is also a very critical part of us. In the future, BingX will continue to take the global development route, establish the BingX global brand, and accelerate the compliance process.
Last but not least, thank you to all the BingX users, and thank you for your firm trust and support in BingX. We still have a lot of room for development. The journey will be long, and the responsibility is very heavy. I hope you will witness the growth of BingX with us in 2020.