CoinEx guarantees 100 % compensation after the latest hack

This week the platform suffered a hack of its assets, which were stolen to unknown wallets

Cyvers Alerts revealed a disturbing incident at CoinEx Exchange. In this event, valuable crypto assets, such as ETH, TRON, MATIC, and others, were mysteriously transferred from CoinEx hot wallets to unknown addresses, sparking serious concerns about a possible cyber attack.

CoinEx’s response was immediate. At 5:38 p.m. on the same day, the exchange team issued an official statement in which it reported that its Risk Control System had identified anomalous withdrawals from several addresses of its “hot wallets”, used to safeguard the platform’s assets. In an immediate action, the team formed a specialized investigation unit to delve deeper into the incident and committed to offering 100 % compensation for any losses arising from this security breach.

Additionally, CoinEx confirmed that its security department had been following the trail of the stolen money, diligently advancing the investigation. At 18:20 on September 12, CoinEx shared the first addresses of the compromised wallets and asked the relevant blockchain entities to collaborate in blocking them.

So far, CoinEx has identified three groups of addresses related to the suspected hackers and has urged project teams and other exchanges to monitor and freeze suspicious addresses.

Users, concerned about the situation, have experienced the temporary suspension of withdrawals at CoinEx. However, the exchange has assured its community that, in the interest of ensuring asset security, withdrawals will resume once the hackers’ addresses are fully identified and isolated after a thorough review. The team stressed that users’ assets are kept “safe and intact.”

This incident highlights the inherent vulnerability of hot wallets compared to cold wallets, which remain offline and are more secure. In a context where cyberattacks and cryptocurrency theft have become unfortunately common in recent years, security in the world of cryptocurrencies remains a constant challenge. Finding effective solutions to protect yourself from cyber hackers remains a pressing priority for cryptocurrency exchange platforms.

K. Tovar

Source: Criptotendencia

(Reference image source: Unsplash+)

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