The validity of the allegation we announced as breaking news about 3 hours ago has been confirmed by the stock market. The exploitation of hot wallets was detected with remarkable activity on the on-chain side. The stock market recently admitted the attack allegations in a statement. So what should investors do?
CoinEx Exchange Hack
First of all, when we first announced the news, we suggested that it would be reasonable for users to transfer their assets to secure addresses in case of a possible bank run or continuation of the attack. Now, the exchange has announced that it has temporarily restricted withdrawals. On the other hand, according to the statement made by the exchange, the amount affected is quite small compared to the total customer balance.
“The exact amount of the loss is still being determined, and the affected funds constitute only a small portion of CoinEx’s total assets. We assure all users that your assets are safe and untouched. Affected parties will receive 100% compensation for any losses resulting from this breach. Deposit and withdrawal services have been temporarily suspended for enhanced security and will resume after a thorough review. During these challenging times, we sincerely appreciate your understanding and patience.”
According to CryptoQuant experts, there has been a total of 40,000 ETH outflows from wallets since May. With today’s outflows, the reserves are almost depleted. The stablecoin reserves in Ethereum wallets have also been depleted.
