CoinEx Resumes Deposit and Withdrawal Services for Select Cryptocurrencies
Crypto exchange CoinEx has announced that it will be reopening deposit and withdrawal services for a number of top cryptocurrencies. After experiencing a hack that resulted in a loss of nearly $70 million, CoinEx has decided to gradually reintroduce these services, starting with BTC, ETH, USDT (ERC20), USDT (TRC20), USDC (ERC20), TRX, LTC, BCH, BNB, DOGE, and SHIB. Users can begin making deposits and withdrawals for these cryptocurrencies from September 21 at 08:00 UTC. CoinEx advises users to use new deposit addresses as old ones may result in lost assets. The exchange plans to resume services for more crypto assets as the new wallet system stabilizes.
Withdrawal Requests for Bitcoin, ETH, SHIB, and DOGE Increase
CoinEx has observed a surge in withdrawal requests for popular cryptocurrencies like Bitcoin, Ethereum, Shiba Inu, and Dogecoin. However, despite XRP’s recent increase in trading volume following the Ripple vs SEC lawsuit ruling in July, CoinEx has not yet resumed deposits and withdrawals for XRP. Market data provider Kaiko reported a significant rise in XRP liquidity from June to September.
Hot Take: CoinEx Makes a Comeback After Hack
After being hit by a major hack resulting in substantial losses, CoinEx is taking steps towards recovery by reopening deposit and withdrawal services for select cryptocurrencies. By prioritizing the resumption of services for top cryptocurrencies like BTC and ETH, CoinEx aims to restore user trust and gradually reintroduce more assets. However, the exclusion of XRP from the list raises questions about the exchange’s decision-making process. With the market showing increased liquidity and depth for XRP, it remains to be seen if CoinEx will reconsider its stance in the future.
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