CoinEx, a Crypto exchange platform based in Hong Kong, has recently experienced a great loss to hackers whereby it lost a sum of US$43 million in cryptocurrencies. Following more reports on blockchain forensics firm Chainalysis. CoinEx has suffered other hacks in the previous years. In 2022 the exchange hackers stole US$3.8 billion in crypto. Furthermore, North Korean cyber hackers also managed to steal an average amount of US$1.7 billion.
The exchange has however temporarily suspended activities like deposits and withdrawals on the platform. On Tuesday made an assurance to its users that everything is under control and that all affected individuals will be compensated.
The initial set of addresses stole Tron, Bitcoin, and Ether from the exchange, according to a message made early on Wednesday by blockchain security company PeckShield on the X platform’s Twitter. They also began that coinEx at a loss of an estimated $43 million.
On 13th September CoinEx reached out to the public saying that they had already found a second of suspicious wallet addresses connected to the theft, which resulted in Ether, XRP, Solana, Kadena, and Dagger tokens.
Crypto exchanges have recently been a major target in the industry. More regulatory rules and safety measures, however, be set on the platform. If these misdeeds are not attended to traders and investors will lose trust in exchanges which will affect the crypto market as a whole.
