CoinEx Crypto Exchange Hacked, Losing $55.5 Million
On Tuesday, September 12, the centralized crypto exchange CoinEx fell victim to a hack, resulting in the theft of over $27 million in crypto. However, recent reports suggest that the losses may actually be double the initial amount. Investigating the attack further, it has been discovered that approximately $55.5 million in crypto has been lost so far.
A breakdown by Wu Blockchain reveals that the losses extend beyond well-known tokens like Ethereum, Bitcoin, and XRP. Assets on other blockchains such as BSC, Polygon, and Kadena have also incurred significant losses. Ethereum alone accounted for over $18 million in stolen funds, while Tron’s TRX token lost over $11 million.
A total of $55,567,468 has been confirmed stolen from the exchange, with the stolen crypto being sent to 19 wallet addresses across 12 blockchains.
Hack Unfolds as CoinEx Promises Compensation
After experiencing the largest centralized crypto exchange hack in 2023, CoinEx has promised to fully compensate all affected users. While deposits and withdrawals are currently unavailable, the exchange assures users that this is only temporary and that normal activities will resume after a thorough review.
CoinEx has also begun posting the wallet addresses connected to the attack to raise awareness and is urging affected projects and industry colleagues to help freeze these suspicious addresses. The exchange intends to share a detailed timeline and comprehensive report on the incident with the community soon.
Hot Take: CoinEx Loses $55.5 Million in Major Hack
Centralized crypto exchange CoinEx fell prey to a significant hack, resulting in losses of approximately $55.5 million in stolen cryptocurrency. The initial reports of the hack estimated the losses at $27.8 million, but further investigation revealed the true extent of the damage. Assets such as Ethereum, Bitcoin, XRP, and others on various blockchains suffered substantial losses.
Despite this setback, CoinEx has pledged to compensate all affected users and has temporarily suspended deposit and withdrawal activities. However, the exchange assures users that these services will resume after a thorough review. CoinEx is actively identifying wallet addresses linked to the attack and calling on other projects and industry members to help freeze these suspicious addresses. A detailed report on the incident will be shared with the community in the near future.
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