iMe Smart Platform Responds to BingX Security Breach, Plans $LIME Token Buyback

  blockchainreporter.net 3 h

iMe Smart Platform has recently addressed the iMe community about a significant security breach at BingX Exchange, which has impacted several tokens, including the platform’s $LIME token. It was reported that the breach included the loss of access to BingX’s hot wallet, which caused concerns and proactive reactions from the iMe team.

⚠️ Important Announcement Regarding the Hack Attack on BingX Exchange and LIME Token

Dear iMe Community!

We regret to inform you that #BingX Exchange has recently experienced a security breach affecting their hot wallet. During this attack, several tokens were compromised,…

— iMe Smart Platform (@iMePlatform) September 20, 2024

iMe Plans $LIME Token Buyback to Stabilize Price After BingX Attack

The iMe team is currently in the process of negotiating with BingX to resolve this issue and fairly compensate the incurred losses. They are doing their best to address the outcomes of the attack and to guarantee that their community is safe during this period.

A suggestion from the iMe team is that they have not sold any tokens and are stressing on that point following the breach. Subsequently, upon receiving compensation from the well-known centralized exchange, the funds will be utilized for a buyback program that involves buying back $LIME tokens to help establish a more stable price for the token. This approach is to reduce fear in the community and ensure stability of the token at this time of fluctuating market prices.

iMe Commits to Community Safety and Transparency Amidst Challenges

People have been urged to be patient and supportive as the iMe team works with BingX to fix the problem. The team is willing to prove the point that BingX is willing to do all that is required to address the problem and regain people’s trust.

Besides, the iMe team also explained to users of a basic rule of storing cryptocurrency; if users have tokens in their exchange wallets, then these tokens are not fully secure. To enhance asset security, the community may utilize the iMe self-custody wallet or such staking options provided by the platform. This recommendation is to assist the users in regaining control of the tokens as well as avoid going through such data loss again.

With regards to the situation, the iMe Smart Platform is ready to protect its community members, as well as the other aspects connected with the hack. To ensure the user is involved as much as s/he can during this sensitive phase, the team has assured the user the most possible information will be provided.

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