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CoinEx Exchange Hacked for Over $30 Million

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

CoinEx Exchange Hacked for Over $30 Million

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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.

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.

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