Bluebenx is a Brazilian cryptocurrency investment platform. The company offered high-yield investment products to entice customers to invest. These products offered up to 66% for having invested funds locked for a year.

The company paused withdrawals in its platform last Thursday, affecting approx. 2,500 customers in the process. According to the company, it was a victim of a hack that removed at least $31M from the company's liquidity pool. However, now it has backpedaled on this explanation, offering a very different take on the issue. Bluebenx explained that the incident was the consequence of a listing scam, in which the company had agreed to pay for listing its own currency, BENX, on another platform.

Bluebenx had to pay $200,000 and 25 million Benx for this listing opportunity to a third party acquainted with the unnamed listing exchange. However, the alleged representative scammed and deprived the company of these funds. Also, the attacker took the 25 million BENX paid and exchanged it for USDT using the liquidity pools of the exchange, depriving it of all of its stablecoin liquidity.