CoinEx’s Hot Wallet suspected to be breached

A real-time security monitoring platform on Twitter,Cyvers Alerts, has issued an urgent warning to cryptocurrency exchange CoinEx regarding potentially malicious activity in the latter’s Ethereum hot wallet.

This is a startling turn of events. As a result of the security breach, concerns have been raised as significant sums of money have been transferred to specific addresses, triggering fears of a potential cyber attack.

The security alert pointed to a specific Ethereum wallet address, 0xCC1…454, which had received an astounding $5 million worth of tokens in the questionable transaction alone.

Additionally, two other wallet addresses, 0x483…584 and 0x8bf…3dE coolectively received a staggering $13 million worth in tokens from this suspicious transaction.

Report indicate that these addresses have begun exchanging tokens for Ethereum, suggesting  a concerted effort to move funds covertly. 

CoinEx has not yet disclosed the scope of the breach or indicated whether any funds belonging to customers were compromised.

The timely notification provided by Cyvers Alert highlights the significant role that the cryptocurrency community plays in maintaining the credibility of the industry as a whole.

Currently,  it is believed that approximately  $27 million has been taken from CoinEx’s wallets.

Cyvers, on the other hand, has suggested that CoinEx immediately halt deposits and withdrawals, and they have added that they will provide additional details regarding the current situation as time unfolds.