🚨Breaking: CoinEx Reassures Security Amid $27.8M Attack⚠️
CoinEx reassures users that their assets are secure and promises total compensation for any losses incurred due to the security breach.
On Tuesday, the exchange quickly identified “anomalous withdrawals,” triggering an immediate response. Consequently, a special task force was mobilized to delve into the matter.
CoinEx Losses Yet To Be Confirmed Moreover, while the exact figure of the financial damage remains under calculation, initial reports estimate it to be $28 million.
CoinEx has emphatically stated that all users’ assets are “secure and untouched.” Affected parties, it pledges, will receive total compensation for any losses incurred due to this security breach.
The current security mishap is one of many challenges CoinEx is grappling with. The exchange also faces legal proceedings from a New York state attorney over alleged business registration violations.
Despite these hurdles, CoinEx has remained within its strategic expansion plans. Recently, the platform announced a new partnership with a Web3 conference to bolster its cryptocurrency trading ecosystem.
The incident involved unauthorized transactions in Ethereum (ETH), TRON (TRX), and Polygon (MATIC). This step prompted CoinEx to freeze both deposits and withdrawals as a remedial measure temporarily.
Besides, assets from the compromised hot wallets are reportedly being transferred to a more secure cold wallet, which presently holds a significant $89 million. However, no official statement concerning the breach’s full extent has been released.
The exchange faces the daunting challenge of bolstering its security measures and retaining the trust of its expansive user base. CoinEx is taking concerted steps to assure its clientele that their funds are safe. Moreover, the immediate action and complete compensation plans are a testament to this commitment.
