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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La entrada CoinEx guarantees 100 % compensation after the latest hack apareció primero en Bitfinance.

CoinEx, a Hong Kong-based cryptocurrency exchange, has been banned by Attorney General Letitia James from operating in the state of New York. According to a statement issued on June 15, more than $1.7 million worth of funds from the exchange were seized due to its alleged failure to register as a securities and commodities brokerage.

This settlement resolves a previous lawsuit filed in February by the state of New York against CoinEx, accusing the platform of falsely presenting itself as an exchange and failing to register with local authorities.

The statement states: “As part of the consent order issued today, CoinEx is prohibited from offering, selling or buying securities and commodities in New York, and is also prohibited from making its platform accessible in the state”.

Under the terms of the agreement, more than $1.1 million will be returned to 4,691 New York investors, and a fine of more than $600,000 will be paid to the State in penalties.

Additionally, CoinEx is required to implement geo-blocking measures to prevent access from IP addresses located in New York. You are also prohibited from creating new accounts for US customers.

Attorney General James noted in the statement: “This settlement today should serve as a warning to cryptocurrency companies that they will face dire consequences if they ignore New York law. My office will continue to crack down on those cryptocurrency companies that defy blatantly violate the law, mislead investors and put New Yorkers at risk.”

K. Tovar

Source: Cointelegraph

(Reference image source: ilgmyzin, Unsplash)

Visit our news channel on Google News and follow us to get accurate, interesting information and stay up to date with everything. You can also see our daily content on Twitter and Instagram

La entrada Attorney General bans CoinEx from operating in New York apareció primero en Bitfinance.