Suspicion of a $27 million hack prompts CoinEx crypto exchange to halt withdrawals
CoinEx has banned withdrawals from its platform following the theft of millions of dollars in tokens by a suspected hacker.
After numerous cybersecurity firms raised the alarm on X, formerly known as Twitter, yesterday, Coinex announced that it had “detected anomalous withdrawals from several hot wallet addresses used to store CoinEx’s exchange assets.”
Initial warnings indicated that the losses in Ethereum (ETH), Tron (TRON), and Polygon (MATIC) may total $27 million.
On Tuesday night, CoinEx stated that the exact amount of the loss was still being calculated, but that it was “just a very small portion of CoinEx’s total assets.”
Withdrawals and deposits have been disabled on the platform until the company’s management examines the occurrence.
“We assure all users: your assets are safe and undamaged,” the business announced on X. “Affected parties will receive full compensation for any losses caused by this breach.”
CoinEx has provided many lists of questionable wallet addresses associated with the hack after confirming the theft. Affected tokens include the three initially identified, as well as Bitcoin (BTC), Arbitrum (ARB), Solana (SOL), and a half-dozen additional cryptocurrencies.
CoinEx, a cryptocurrency exchange founded in 2017, gained its reputation by focusing on Bitcoin Cash (BCH) following the first hard fork of the world’s largest cryptocurrency. After a significant expansion in 2020, it now offers futures trading, leveraged trading, options trading, and access to over 100 token projects.
In a blog post last month, the corporation boasted that it “has never suffered any security breach thanks to its world-class security infrastructure.”
