CoinEx Exchange Hacked, $28 Million Stolen
Date: 2023-09-12 Author: Dima Zakharov Categories: BLOCKCHAIN, CRYPTO PAYMENTS
The Hack and Suspicions
The recent attack on CoinEx saw hackers targeting the exchange's hot wallets containing ETH, TRON, and Polygon. They managed to make away with a staggering $28 million in various cryptocurrencies. This breach has left many in the crypto community speculating whether CoinEx is involved in an exit scam, a fear fueled by the exchange's lack of immediate response.
However, according to data from the Arkham analytics platform, CoinEx has been actively transferring the remaining funds from the compromised hot wallets to cold wallets. As of now, the exchange holds assets worth nearly $100 million, with the majority stored in a cold wallet with the address 0xf54...7E5d. Notably, this includes $51.7 million worth of ETH and $18.23 million in USDT.
Official Silence and User Frustration
CoinEx has yet to issue an official statement regarding the incident, further deepening suspicions among its user base. Instead, users received a message stating that their wallets were "undergoing maintenance" for an indefinite period. Consequently, both deposits and withdrawals have been temporarily disabled, leaving users frustrated and concerned about the safety of their assets.
Frequent Hacks in the Crypto Industry
Unfortunately, hacks and security breaches are not uncommon in the cryptocurrency industry. Recent data reveals that the industry has witnessed over 200 incidents this year alone, resulting in the loss of approximately $1.25 billion in assets. Shockingly, just in the month of August, crypto projects suffered losses exceeding $23 million due to hacking attacks.
