CoinEx

2023: Embezzlement of $31m

On September 12, 2023, the professional international cryptocurrency exchange CoinEx reported a cyber attack that stole tens of millions of dollars.

CoinEx's official notice says it has detected "abnormal transfers" from several wallets that are used to store the platform's assets. Information security experts have recorded unauthorized transactions with Ethereum, Tron and Polygon coins. The crypto exchange does not name the amount of damage, saying that it has not been determined. However, according to estimates of third-party analytical companies specializing in cryptocurrencies, at least $31 million was stolen from the platform.

CoinEx crypto exchange confirms theft of customer funds as a result of cyber attack

In particular, according to PeckShield estimates, CoinEx was stolen about $19 million in Ethereum cryptocurrency, approximately $11.5 million in Tron and approximately $295 thousand in Polygon. At the same time, SlowMist experts believe that the real damage from the attack can reach $55.5 million.

We assure all users that their assets are safe. Those affected will receive 100% compensation for any losses incurred as a result of this incident. For added security, deposit and withdrawal operations are temporarily suspended - they will resume after a thorough review. Our priorities have always been and will be user safety and trust, "CoinEx said.

According to some reports, hackers of the North Korean group Lazarus Group may be behind the attack. CoinEx emphasizes that it was able to identify and isolate wallet addresses related to cyber warfare. At the same time, work is underway to eliminate the consequences of hacking. After a comprehensive investigation, CoinEx will release a detailed account of the incident.^[1]

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