CoinEx Exchange Hacked for Over $30 Million
The exchange’s hot wallets seem to be experiencing major outflows.
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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.
🚨ALERT🚨Hey @coinexcom, Our AI powered
system has detected multiple suspicious transactions
with your #Ethereum hot wallet. It is being draining
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.