Cryptocurrency exchange CoinEx has temporarily suspended withdrawals following a suspected cyber attack that could have resulted in a loss of around $27 million. Unusual activities on the platform were noticed by multiple cybersecurity firms, prompting a confirmation from CoinEx that some of its hot wallet addresses had experienced “anomalous withdrawals”.
The potential stolen assets include Ethereum, Tron, and Polygon. CoinEx has assured its users that the stolen funds represent only a small portion of its total assets and has promised to provide 100% compensation for any losses incurred.
The exchange has disabled deposits and withdrawals while an investigation is conducted. CoinEx, a key player in the cryptocurrency exchange industry since its establishment in 2017, initially focused on Bitcoin Cash before expanding its services to include futures trading, options trading, and access to various token projects. This recent attack highlights the continued vulnerability of cryptocurrency exchanges to hackers, despite efforts to improve security measures.