CoinEx Exchange Hacked for Over $30 Million

CoinEx, global cryptocurrency exchange, appears to have lost over $30 million in ETH, TRON, and Polygon’s MATIC, according to on-chain data.

Web3 security firm, Cyvers Alert, warned the community a few hours ago about a potential security breach related to a potential private key leakage, access control violations, or, insider job.

🚨ALERT🚨Hey @coinexcom, Our AI powered

system has detected multiple suspicious transactions

with your #Ethereum hot wallet. It is being draining

right now. You should stop all the withdraws and deposits right now@tayvano_ @zachxbt

More info will come

Stay Vigilant! pic.twitter.com/I6GON0An4v

— 🚨 Cyvers Alerts 🚨 (@CyversAlerts) September 12, 2023

This is not the first time that CoinEx has suffered a hack. In 2014, the exchange was hacked, resulting in the theft of all the bitcoins in its possession. However, the exchange covered the losses out of its own pocket.

Earlier this year, CoinEx stopped serving all U.S. customers due to regulatory concerns. In June 2023, CoinEx agreed to pay over $600,000 in penalties and refund $1.17 million to New York investors.

CoinEx Exchange Hacked for Over $30 Million

The exchange’s hot wallets seem to be experiencing major outflows.