Bilaxy
Last changed 2026-10-10 · Score recalculated — Rescored under Scoring v2, the published formula (avoid.net/scoring): 18 → 42. Problems weighed by who is responsible: incidents the subject suffered −20, the subject's own conduct −15, concerns that are not fraud −6, problems around the subject, caused by others −2.3; legitimacy credit long-running +10. Version history →
Why this score
| Every page starts at | 65 |
| The subject's own conduct | -15 |
| Concerns that are not fraud | -6 |
| Incidents it suffered (e.g. hacks) | -20 |
| Problems around it, caused by others | -2.3 |
| Long-running | +10 |
| Sum | 32 |
Score: 42/100 (kept between 0 and 100)
How scoring works →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
5 entities · 60 linked investigations- USD Coin (USDC)→mentioned with→Ethereum(80%)
- USD Coin (USDC)→mentioned with→Tether(70%)
- Uniswap→mentioned with→Ethereum(80%)
- Bilaxy→mentioned with→USD Coin (USDC)(80%)
- Bilaxy→mentioned with→Uniswap(60%)
- Bilaxy→mentioned with→Tether(60%)
- Bilaxy→mentioned with→Ethereum(70%)
Timeline(9 events)
April 2018
Bilaxy exchange founded and launched, incorporated in the Seychelles.
TradingFinder Exchange Review28 August 2021
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 / CoinTelegraph29 August 2021
Bilaxy posts Telegram announcement disclosing the hack and instructing users to halt all deposits. Exchange website suspended for emergency maintenance. Twitter announcement issued.
CoinTelegraph29 August 2021
HOGE token community reports that nearly one billion HOGE tokens held on Bilaxy were stolen; HOGE market price drops approximately 35%.
PYMNTS30 August 2021
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 Institute30 August 2021
Attacker routes 200 ETH (approximately $700,000) through Tornado Cash in two transactions to obscure fund origins.
Merkle ScienceSeptember 2021
Exchange expected to remain offline for at least two weeks; security firms engaged to audit infrastructure.
Latest Hacking NewsSeptember 2021
Bilaxy announces plan to reimburse affected users using platform funds for approximately 290 of the affected token types.
TradersUnion ReviewAugust 2023
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
- slot 455359761 · hash Duxy9ADTCThuoYtYxw2cYDxxptD2qjthYwSgKQrLz1yU
- slot 423161224 · hash FJtHQAft6GjR7KeerFviCfUyWqd4fgvBidYeq4qvomqG
This investigation is cryptographically anchored to the Solana blockchain (2 decisions). 11 of 14 cited source URLs have an Internet Archive snapshot.
model: claude-sonnet-4-5
generated: 5/30/2026, 1:00:05 PM
last updated: 10/10/2026, 6:41:01 PM
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