CDS Crypto News New Developments in the CoinEx Cyber Attack: Exchange Invites Hackers to Negotiate While Trying to Activate Withdrawals
Crypto News

New Developments in the CoinEx Cyber Attack: Exchange Invites Hackers to Negotiate While Trying to Activate Withdrawals

The exchange started to recover after the CoinEx cyber attack.

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New Developments in the CoinEx Cyber Attack: Exchange Invites Hackers to Negotiate While Trying to Activate Withdrawals

Crypto News – As part of its ongoing attempts to recover from a recent cyberattack, CoinEx has claimed substantial success.

New Developments in the CoinEx Cyber Attack: Exchange Invites Hackers to Negotiate While Trying to Activate Withdrawals

The cryptocurrency exchange declared that it has successfully finished 50% of the repair of its wallet system and is now prepared to put a plan into action to start accepting withdrawals again.

Within the course of 7 working days, the CoinEx team has laid up a plan to progressively resume withdrawal services. The exchange is determined to guarantee 100% asset safety before reactivating withdrawal capability, underscoring the critical importance of protecting consumers’ assets.

Currently, we focus on upgrading the wallet architecture, calculating losses, and freezing related suspicious addresses by coordinating with industry partners and peer exchanges. Regarding compensation plans for the stolen assets, we are now formulating options. The compensation will be provided per-coin, with details to follow in our official announcements later.

CoinEx

CoinEx to Give Bug Bounty to Attackers

As it works to rebuild the confidence of its user base, CoinEx is still dedicated to the restoration of full services and the bolstering of its security infrastructure. Approximately $70 million in funds were stolen as a result of the most recent security breach, which North Korean hackers are to blame for. The exchange assured its consumers that the cash that was stolen only made up a small portion of its overall holdings.

The incident was recognized by CoinEx as a crucial lesson in bolstering asset security in an open letter that was published on September 15. The exchange sent out an invitation to the hackers, promising a sizable bug bounty in return for the recovery of assets that had been taken, as well as expressing a desire to work with them on further security updates.

We hope you recognize the impact of this event on each one of those users. We would appreciate it if you understand the concerns and frustrations of these affected users. We sincerely invite you to work with us to resolve this issue in a securer, more reasonable, and more user-friendly manner.

CoinEx
New Developments in the CoinEx Cyber Attack: Exchange Invites Hackers to Negotiate While Trying to Activate Withdrawals
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lectertodd

Lectertodd is 25 years old. She graduated from Çankaya University, Department of Psychology, in 2021. She actively works as a writer, translator, and editor for various websites. Moreover, she loves reading, researching, and learning new things.

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