Crypto News – The cryptocurrency exchange CoinEx had a security compromise that caused losses across five blockchains totaling an estimated $43 million.
Users’ Losses in CoinEx Hack Revealed at $43 Million
Ethereum suffered the most loss, losing $19 million, according to PeckShield monitoring. TRON came in second with losses of $11 million, followed by $6.4 million for Bitcoin, $6 million for Bitcoin Cash, and $295,000 for Polygon.
CoinEx Says It Will Cover Losses
In order to safeguard the security of customer assets, CoinEx acted quickly, stopping deposit and withdrawal services. On September 12, the risk management system for the exchange discovered unusual withdrawals from hot wallet addresses. Initial investigations uncovered unlawful MATIC, TRON, and ETH transactions.
The exchange assured consumers that their investments were still safe by pointing out that the funds in question made up a relatively modest fraction of its overall holdings. The exchange promised to reimburse all harmed parties in full for their losses. According to CoinEx’s statement on the hack, the company said it has discovered and removed suspicious wallet addresses linked to the hack from the platform.