CoinEx Crypto Exchange Reports $55.5 Million in Losses Following Hack

CoinEx Crypto Exchange Reports .5 Million in Losses Following Hack

Centralized cryptocurrency exchange CoinEx has reported losses of $55.5 million following a recent hack. Initially, the attack was believed to have resulted in the theft of $27 million in crypto assets. However, further investigation revealed that the losses were double the initial estimate. The stolen funds include Ethereum, Bitcoin, XRP, BNB, TRX, SOL, XDAG, KDA, and BCH, among others.

The stolen crypto assets were sent to 19 wallet addresses across 12 different blockchains. CoinEx has promised to compensate all affected users in full and has temporarily suspended deposits and withdrawals while conducting a thorough review. The exchange plans to resume these activities once the review is complete.

CoinEx has also taken steps to raise awareness about the attack by posting the wallet addresses associated with the hack. The exchange has urged affected projects and industry colleagues to assist in flagging and freezing these addresses.

The incident marks one of the largest centralized cryptocurrency exchange hacks in 2023. CoinEx has assured its users that a detailed timeline and comprehensive report on the incident will be shared with the community in the near future.


Author: CrimeDoor

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