Phemex Crypto Exchange Sees $37 Million in Suspicious Withdrawals
Date: 2025-01-24 Author: Oliver Abernathy Categories: BUSINESS
Cyvers Alerts, an analytics platform, reported the withdrawal of over $29 million in assets to unknown addresses on the BNB Chain, Ethereum, Optimism, Polygon, Base, and Arbitrum networks. They later clarified that similar transfers were seen on the Bitcoin and Tron blockchains, with the total withdrawal amounting to about $37 million.
PeckShield also recorded suspicious transactions confirming the withdrawal of large sums.
Phemex responded quickly to the situation by temporarily suspending withdrawal operations. The exchange representatives assured users that assets in “cold” wallets are completely safe.
“We apologize for the temporary inconvenience. Our primary goal is to ensure the safe and stable operation of the platform. We are already developing a compensation plan for affected users, which will be announced soon. Thank you all for your patience and support,” the company said in an official statement.
The exchange representatives emphasized that core operations, including trading services, continue without interruption.
This incident reminded the community of the BingX hack last September, when hackers stole assets worth $43 million. At that time, PeckShield analysts quickly revealed the details of the incident.
The situation around Phemex highlights the importance of strengthening security measures in an industry where hacking incidents remain a significant threat.
