Hot Development: The Hacked Crypto Exchange Made Important Statements!

Today the market received news of the suspected hacking of crypto exchange CoinEx. In this attack, allegations were made that hackers emptied $27 million worth of crypto. In a last-minute development, CoinEx confirmed the attack and made a statement.

CoinEx was attacked by hackers today

As you follow from Kriptokoin.com, unusual movements took place in a CoinEx hot wallet today. The crypto exchange’s team described this as “abnormal withdrawals.” This wallet transferred $27 million worth of various tokens to a wallet with no prior history. This led security experts to suspect that the exchange had been hacked. Blockchain security platform Cyvers Alerts estimated losses at approximately $27 million.

At approximately 16:21 UTC, a known CoinEx hot wallet transferred approximately 4,947 ETH, worth $7.9 million at the time, to an Ethereum account. The receiving account had no history before this transaction. Immediately after this transaction, the CoinEx hot wallet started transferring large amounts of tokens to the same address. Among them, approximately 408,741 DAI, 2.7 million Graph (GRT), 29,158 Uniswap (UNI) and many other tokens were transferred from the wallet. Blockchain security firm PeckShield also reported crypto outflows as “suspicious.” Julio Moreno, head of research at CryptoQuant, also said that the behavior of the CoinEx wallet is “strange.” Because he claimed that ETH reserves are “basically zero ETH right now.”

Ethereum Exchange Reserve. Source: CryptoQuant

Crypto exchange confirmed the attack and made a statement

Later, CoinEx confirmed that it had experienced suspicious withdrawals on social media platform X. “Our Risk Control System detected abnormal withdrawals from several hot wallet addresses used to store CoinEx exchange assets,” the crypto exchange said. The exchange added that a “special investigation team” had been appointed to determine what happened.

The CoinEx team also stated that the withdrawn crypto was a small portion of the exchange’s total reserves. In addition, it noted that users “will receive 100% compensation for any losses they suffer as a result of this breach.” In this context, CoinEx stated the following in its statement:

Preliminary assessments point to unauthorized transactions involving ETH, TRON and MATIC. The exact amount of loss has still not been determined. However, the affected fund represents only a very small portion of CoinEx’s total assets. We assure all users: Your assets are safe and untouched. Affected parties will receive 100% compensation for any losses resulting from this breach. For added security, deposit and withdrawal services have been temporarily suspended and will resume after a thorough review.