Cryptocurrency 1 hour ago (Aug 14, 2022 03:00AM ET)
BlueBenx fires employees, halts funds withdrawal citing $32M hack
BlueBenx, a Brazilian crypto lending platform, reportedly blocked all of its 22,000 users from withdrawing their funds following an alleged hack that drained $32 million (or 160 million Brazilian real). While no details about the hack were made available, the company allegedly laid off most of its employees.
BlueBenx joins the growing list of crypto companies that failed to deliver on their promise of exorbitant yield returns this crypto winter. The Brazilian crypto lender promised up to 66% returns for users investing in cryptocurrencies via various in-house earning avenues.