CoinEx Exchange Faces Security Incident with Losses of Over $27.8 Million
A ‘security incident’ has occurred at CoinEx, the Hong Kong-based cryptocurrency exchange, resulting in suspicious transactions originating from its Ethereum hot wallet. Multiple alerts have highlighted the ongoing drainage of funds from the wallet.
Notifications Raised Concerns Prior to Official Statement
Prior to the exchange’s official announcement, various sources had already raised concerns about the hot wallet. Data from Etherscan revealed that the wallet transferred 4,947 Ether (equivalent to $7.9 million) to an unfamiliar account. Other affected wallets included TRON and Polygon (MATIC), leading to an estimated combined loss of $27.8 million.
Hot Take: CoinEx Urgently Addresses Security Incident Resulting in Substantial Losses
CoinEx, the cryptocurrency exchange, is currently facing a security incident that has resulted in significant financial losses. The exchange’s Ethereum hot wallet has been drained, with suspicious transactions causing alarm. Despite prior notifications, the issue was not officially addressed until now. The affected wallets, including those associated with TRON and Polygon (MATIC), have suffered combined losses amounting to over $27.8 million. CoinEx will need to swiftly investigate the breach and implement necessary security measures to prevent such incidents in the future. This incident serves as a reminder of the importance of robust security measures in the cryptocurrency industry.
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