Hack Alert! Suspicious On-chain Activity Found on CoinEx Crypto Exchange

LUCKNOW (CoinChapter.com) — In a time when cryptocurrency investors are on high alert for hacks and scams, unsettling news has emerged regarding CoinEx. Recent on-chain activity has set off alarm bells, suggesting a potential security breach.

$18M Transferred from CoinEx Wallets

CoinEx, boasting a daily trading volume of $32 million, has recently experienced substantial withdrawals from its hot wallets. Furthermore, CyversAlerts reported that they observed a transfer of approximately $18 million worth of assets.

These transfers, originating from three hot wallets, have ignited concerns about the exchange’s security.

As reported by Wu Blockchain, the exchange has incurred losses totaling $27.8 million across distinct blockchain networks, including Ethereum (ETH), Tron (TRX), and Polygon (MATIC).

Despite growing apprehensions in the crypto community, CoinEx has remained silent. CyversAlerts has confirmed that its attempts to contact the exchange officials have gone unanswered.

Amid these alarming developments, the cryptocurrency community is sounding an urgent cybersecurity warning. Ethereum wallets, in particular, have seen a significant depletion, prompting investors to take immediate precautionary measures.

Private Keys Compromised? CoinEx’s Silence Sparks Speculation

The absence of any official statement from CoinEx regarding these substantial transfers fuels speculation about the potential compromise of private keys. With the security of users’ funds in question, investors are advised to err on caution and consider relocating their assets from the exchange.