BiKing Security Issues: What Went Wrong and How to Avoid Similar Crypto Risks
When BiKing security issues, a series of critical failures in a now-defunct crypto exchange that led to user fund losses and loss of trust surfaced in 2023, it wasn’t just another headline—it was a wake-up call for anyone using non-major exchanges. BiKing wasn’t a household name like Binance or Coinbase, but it had drawn users with low fees and fast trades. Then, without warning, withdrawals stopped, customer support vanished, and the website went dark. The root cause? Poor code practices, no multi-sig wallets, and zero third-party audits. This isn’t rare. It’s standard for platforms that skip basic security steps to save money.
BiKing’s collapse connects directly to other patterns you’ve seen in posts here: crypto exchange hacks, unauthorized access to user funds due to weak infrastructure or insider threats, like what happened with Sistemkoin and Wavelength. It also mirrors the same red flags in crypto scams, fraudulent platforms designed to steal assets under the guise of legitimacy—think Grok Girl or real fast (SPEED). These aren’t just bad projects; they’re built on the same broken foundation: no transparency, no accountability, and no real security culture. Meanwhile, blockchain security, the underlying practices that protect digital assets through encryption, access controls, and decentralized verification, remains strong on Bitcoin and Ethereum—but only when the layer above it (the exchange or wallet) doesn’t break it.
What makes BiKing different isn’t the scale of the theft—it’s how avoidable it was. No one forced users to deposit funds there. No one checked if the exchange had a public audit report. No one asked if the team had a track record. You don’t need to be a coder to spot these signs. If a platform doesn’t list its security partners, doesn’t show cold wallet addresses, and has no history of incident disclosures, it’s not a platform—it’s a gamble. And in crypto, gambling with your assets always ends the same way.
The posts below cover real cases where users lost money because they trusted the wrong platforms. You’ll see how QBT lost value after its airdrop, why Shadow Exchange v2 earned trust through transparency, and how Wavelength and Sistemkoin were flagged long before they disappeared. These aren’t just stories—they’re checklists. Every one of these failures followed the same path as BiKing: no security, no oversight, no escape. The next time you see a new exchange with flashy ads and zero reviews, ask yourself: Would you hand your keys to someone who won’t show you their lock?
BiKing Crypto Exchange Review: High Risk, Low Trust in 2025
BiKing is an unregulated crypto exchange with a history of security breaches, $8 million in stolen funds, and no user protections. Avoid it if you value safety over high leverage. Choose regulated platforms like Coinbase or Kraken instead.
- October 1 2025
- Terri DeLange
- 20 Comments