CoinEx Wallet System Rebuilds After Recent $54 Million Hack
According to the early investigation, the breach was brought on by a hot wallet private key leak. Surprisingly, CoinEx has informed users that the assets in its cold wallet have not been impacted by the attack. The exchange has used its User Asset Security Fund to reduce the financial losses brought on by this incident.
A large number of chains and coins (211 chains and 737 coins) are present in the wallet system that CoinEx is diligently trying to recover. To prevent possible asset losses during this recovery phase, consumers are recommended to deposit money at their former locations.
What Precautions Did CoinEx Take After the Attack?
CoinEx has put into place a number of crucial precautions in reaction to the attack. All cryptocurrency deposit and withdrawal services have been momentarily paused, and the compromised hot wallet server has been swiftly taken offline. The remaining money in the impacted hot wallet has been quickly relocated to a secure location. Furthermore, the exchange is revamping and redeploying its wallet infrastructure.