Bilaxy
Summary
Bilaxy is a centralized cryptocurrency exchange founded in 2018 and registered in the Seychelles. On August 28, 2021, the exchange suffered a hot wallet compromise in which an attacker transferred approximately 295–297 ERC-20 tokens valued at roughly $21–30 million to a single external address. The exchange suspended all services, later claimed to have reimbursed most affected users using platform funds, but drew sustained user complaints about exorbitant post-hack withdrawal fees and withheld balances.
Connected Entities
1 entities · 10 linked investigationsTimeline(9 events)
2018-04-01
Bilaxy exchange founded and launched, incorporated in the Seychelles.
TradingFinder Exchange Review2021-08-28
Hot wallet (0xcce8d59affdd93be338fc77fa0a298c2cb65da59) compromised between 18:00–19:00 UTC. Attacker transferred approximately 295–297 ERC-20 tokens to wallet 0xa14d5da3c6bf2d9304fe6d4bc6942395b4de048b. Estimated loss: $21–30 million.
Merkle Science / CoinTelegraph2021-08-29
Bilaxy posts Telegram announcement disclosing the hack and instructing users to halt all deposits. Exchange website suspended for emergency maintenance. Twitter announcement issued.
CoinTelegraph2021-08-29
HOGE token community reports that nearly one billion HOGE tokens held on Bilaxy were stolen; HOGE market price drops approximately 35%.
PYMNTS2021-08-30
Bilaxy releases detailed incident timeline via Telegram. Remaining hot wallet assets moved to cold storage. Exchange states BTC and ETH native assets unaffected. Incident reported to local authorities.
Distributed Networks Institute2021-08-30
Attacker routes 200 ETH (approximately $700,000) through Tornado Cash in two transactions to obscure fund origins.
Merkle Science2021-09-01
Exchange expected to remain offline for at least two weeks; security firms engaged to audit infrastructure.
Latest Hacking News2021-09-01
Bilaxy announces plan to reimburse affected users using platform funds for approximately 290 of the affected token types.
TradersUnion Review2023-08-01
On-chain data shows attacker's wallet still holds tokens valued at approximately $3.6 million, indicating stolen funds were never fully recovered or returned.
Distributed Networks InstituteDecision Log
- hash: FJtHQAft6GjR7KeerFviCfUyWqd4fgvBidYeq4qvomqG
This investigation is cryptographically anchored to the Solana blockchain and source URLs are archived via the Internet Archive.
model: claude-sonnet-4-5
generated: 5/30/2026, 1:00:05 PM
last updated: 5/30/2026, 1:00:10 PM
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