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- CoinEx came into the spotlight on September 12 with claims of a suspicious security breach, which is believed to have caused nearly $53.9 million in losses.
- On Tuesday, approximately $7.9 million worth of cryptocurrencies, valued at around 4,947 ETH, were swiftly transferred from a known CoinEx hot wallet to an Ethereum
(ETH) address. - Julio Moreno, the research director of CryptoQuant, expressed concerns about the unusual behavior of CoinEx’s wallet, emphasizing that the wallet’s Ether reserves had dropped to nearly zero ETH.
The amount stolen as a result of a hacking attack on the cryptocurrency exchange CoinEx exceeded 50 billion dollars; Which tokens were withdrawn from the platform?
Hack Attack Occurs on CoinEx Exchange
CoinEx, a leading cryptocurrency exchange, made headlines on September 12 with claims of a suspicious security breach that is believed to have caused nearly $53.9 million in losses. This incident sent shockwaves through the crypto community as large-scale withdrawals to an unknown address raised red flags.
On Tuesday, approximately $7.9 million worth of cryptocurrencies, valued at around 4,947 ETH, were swiftly transferred from a known CoinEx hot wallet to an Ethereum (ETH) address. What was even more intriguing was that the receiving account had no transaction history prior to this. Following this mysterious transfer, a large volume of tokens initiated a one-way journey from CoinEx’s hot wallet to the same mysterious address. The intensity of this activity caught the attention of many blockchain security firms, rapidly labeling the withdrawals as “suspicious.”
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The blockchain security platform Slow Mist estimated that approximately $53.96 million worth of cryptocurrencies were lost in the breach. The breach included stolen Bitcoin (BTC), Ethereum (ETH), XRP, Polygon (MATIC), Solana (SOL), TRON (TRX), Binance Coin (BNB), Bitcoin Cash (BCH), and others.
Notably, Julio Moreno, the research director of CryptoQuant, expressed concerns about the unusual behavior of CoinEx’s wallet. He highlighted that the wallet’s Ether reserves had dropped to nearly zero ETH, indicating a significant loss.
CoinEx’s Confirmation of the Situation
In response to this developing crisis, CoinEx announced on Tuesday that it had formed a team to address the issue. It established a “dedicated investigation team” to handle the critical situation and attempt to determine the scope of the breach.
To reassure concerned users, CoinEx emphasized that the stolen cryptocurrencies were only a fraction of its overall reserves. It pledged to compensate for any losses resulting from this breach and promised users a 100% full refund.
