At XT Exchange, your trust has always been our core motivation.
On November 28, 2024, we discovered that a wallet on the platform (on-chain address: 0xdb3ded7731c781224ec292e2163d9554c094fd7c) had an abnormal fund transfer involving approximately 1 million USDT in 12 different currencies.
We understand that such news may make you worried, so we immediately confirm to you: your funds are completely safe. The assets involved in this incident belong to the XT exchange itself and no user funds were affected.
Our team has quickly launched a detailed investigation and is working closely with top cybersecurity experts and relevant authorities to analyze the cause of the incident and take measures to prevent similar issues from happening again. We promise to continue to update you on the latest progress.
Transparency and accountability are our commitment.
XT Exchange has always adhered to transparency as its core and ensured that fund management is open and transparent. Below are the details of one of our stablecoin reserves to give you a clearer understanding of the robustness of XT Exchange:
Overview of Stablecoin Reserves
Wallet address: 0x2DD748f9ccfE851aF87614b30C90016eAAf7eE2C
ETH balance: 7.5196 ETH ($27,123.55, calculated at $3,607.03/ETH)
Total reserve value: $12,199,492
Tether (USDT): 90.34% ($11,021,221.40)
Shiba Inu Coin (SHIB): 4.80% ($584,990.61)
Baby (BABY): 2.45% ($299,307.42)
BZZ（BZZ）：1.24%（$150,803.29）
Other tokens (WLD, BNB, ETH): <1%
Multi-chain asset distribution
Ethereum: $12,115,136 (99%)
Option One：$84,303（1%）
BNB Chain: $52 (<1%)
This reserve is part of our larger financial system, focused on protecting user assets and maintaining platform stability.
In addition to stablecoin reserves, XT Exchange also maintains sufficient overall capital reserves to ensure that the platform has sufficient liquidity at all times. As of November 28, 2024, at 8:23:43 am, our total reserves reached $146,792,780.07, as follows:
Reserve Details
Bitcoin (BTC):
Address: bc1q8hnen9qfvgjv2mka3czqtmx8p4y7akuyfdvjrt — 898.08 BTC ($85,802,921.87)
Address: bc1qkss0j0w0usv7srl7x8s4f8fyv8uca8ngaend0m — 465 BTC ($44,426,285.71)
Address: 32BN3dJ8pCx6dV4krhNDhrtT82eebNKh5f — 113.75 BTC ($10,867,720.43)
Address: 3GoRKLQQSMesvh1zLXKpQLqmUpernDae4e — 30.57 BTC ($2,920,670.01)
Tether (USDT):
Address: 0x033f74f97796d4E521506491954C71fFA75DadF4 — 3,251,797.99 USDT ($3,253,210.15)
Token Distribution
Bitcoin (BTC): 97.79%
Tether (USDT): 2.21%
This financial data clearly demonstrates our commitment to protecting user assets and maintaining platform stability.
In addition to responding to this incident, we are also taking proactive steps to further strengthen the security of our platform:
Upgrade security systems: Deploy advanced threat detection tools to identify and block potential risks more quickly.
Merkle Tree Asset Proof System: It is planned to be launched in mid-December to help users independently verify platform assets and improve transparency.
Independent security audit: Hire a top cybersecurity company to conduct a comprehensive review of the system to strengthen platform security.
User education program: Provides security guides and tools to help users prevent potential threats such as phishing attacks.
Thank you for your support and trust. Over the past six years, XT Exchange has been committed to providing users with a safe and reliable trading platform. Every challenge makes us more resilient and more determined to make a commitment to you. Your trust is our driving force for continuous progress, and we will continue to do our best to protect the safety of your assets.
We will continue to update the progress of the incident investigation through official channels. If you have any questions, please feel free to contact us at support@xt.com.
Thank you for your continued support. Let us work together to create a safer future!
XT Team November 28, 2024
