🚨 Get Your Free NFT Certificate Mint by Completing the Web3 Exam! START NOW
My Learnlist: Coming Soon!
My Learnlist: Coming Soon!

Learn by real-life examples: Select, Track & Understand any cryptos with the unique Learnlist feature!

Notify Me!
Portfolio: Coming Soon!
Portfolio: Coming Soon!

Set your wallet & get powerful insights backed by data. Easily learn how to use it for your highest rewards!

Notify Me!

Recently Hacked Crypto Exchange CoinEx Resumes Deposits and Withdrawals

Recently Hacked Crypto Exchange CoinEx Resumes Deposits and Withdrawals

CoinEx rises from the ashes.

After a harrowing week following a $70 million security breach, cryptocurrency exchange CoinEx is back in action.

The crypto exchange has announced that it is resuming its deposit and withdrawal services for Bitcoin (BTC), Ether (ETH), Tether (USDT), USD Coin (USDC), and other tokens, starting September 21st.

Is Cryptocurrency a Good Investment? (5 PROS & CONS!)

Did you know?

Want to get smarter & wealthier with crypto?

Subscribe - We publish new crypto explainer videos every week!

Is Cryptocurrency a Good Investment? (5 PROS & CONS!)

Is Cryptocurrency a Good Investment? (5 PROS & CONS!) Is Cryptocurrency a Good Investment? (5 PROS & CONS!)

CoinEx initially took immediate steps to halt transactions after falling victim to a significant hack that drained around $70 million from its hot wallets.

According to recent information, the crypto exchange had been urgently working on creating a brand-new wallet system designed to accommodate its extensive list of 211 blockchains and 737 tokens. This move is part of the crypto exchange's strategy to prioritize user security and mitigate risks.

In the wake of the attack, customers are strongly advised to avoid making deposits to old addresses. The platform stated that assets sent to previous addresses would be irretrievable. CoinEx also cautioned its customer base that there might be a backlog of withdrawal requests as services are restored.

We ensure the new wallet system is stable, and we will gradually resume deposit and withdrawal services for more assets.

The crypto exchange has provided reassurance by stating that they have enforced a 100% asset reserve policy to secure user assets against future vulnerabilities. 

The hack itself led to the loss of several high-value cryptocurrencies, including 231 BTC, 4,953 ETH, 135,600 Solana, and 137 million Tron tokens. Although Elliptic, a blockchain analytics firm, has tentatively linked the hack to North Korea's "Lazarus Group," the platform has noted that the investigation is ongoing to identify the culprits accurately.

In the most recent development, the crypto exchange revealed that it is open for a discussion with a hacker in an attempt to recover stolen funds.

CoinEx's comeback is a substantial development in the wake of one of the year's most significant crypto heists. By resuming operations with enhanced security features, the crypto exchange hopes to regain customer trust and fortify its platforms against future attacks.

Gile K., Market Sentiment Analyst
Gile is a Market Sentiment Analyst who understands what public events may form what emotions. Her experience researching Web3 news and public market messages – including cryptocurrency news reports, PRs, and social network streams – is critical to her role in helping lead the Crypto News Editorial Team.
As an intelligent professional in public relations, together with the team, she aims to determine real VS fake news patterns, and bring her findings to anyone searching for unbiased news and events happening in the FinTech markets. Her expertise is uncovering the latest trustworthy & informative Web3 announcements to the masses.
When she's not researching the trustworthiness of mainstream stories, she spends time enjoying her terrace view and taking meticulous care of her outdoor environment.



Earn Huge Exclusive Binance Learners Rewards