CoinEx has released an announcement about their services. They have confirmed that the deposit and withdrawal services for ten coins will be operational again on September 21, 2023. This initiative comes after the CoinEx recovered from a significant $55 million hack. The hack occurred on September 12, 2023.
As part of the recovery process, CoinEx has introduced new deposit addresses. It is crucial to note that users should refrain from utilizing the old addresses to avoid permanent loss of their assets. CoinEx advises users to verify the correct address before initiating any fund transfers.
The exchange also disclosed the hack and recovery plan in a blog post. According to the post, hackers exploited a vulnerability in the hot wallet system. It led to the theft of approximately $55 million worth of cryptocurrencies. It includes BTC, ETH, USDT, and other cryptocurrencies.
The exchange promptly shut down the hot wallet servers to overcome this breach. They suspend all deposits and withdrawals on their platform. Furthermore, they securely transferred any remaining assets from the compromised hot wallet to protected addresses.
The incident propelled the exchange to launch an investigation. Working closely with its wallet and security teams, they actively look into the matter. Additionally, they contacted other exchanges and wallets, requesting the freezing of associated accounts involved in the hack.
The exchange established communication channels to keep its users informed and responded to their questions. Furthermore, CoinEx provided a detailed announcement disclosing the stolen assets and outlined forthcoming measures.
CoinEx Upgrades Its Wallet Security And Guarantees 100% Reserves For Users Funds
The exchange stated that it has been diligently working to rebuild its wallet system. This system supports 211 chains and 737 coins. The exchange assures users that after ensuring asset safety, it will gradually restore deposit and withdrawal services for more assets.
Additionally, the exchange assures users that their assets have not been affected by this hack and will remain unaffected in the future. They also mention that any financial losses from this incident will be covered by the CoinEx User Asset Security Foundation.
The exchange also mentioned that since its launch in 2017, it has consistently protected user assets with 100% reserves. Furthermore, the exchange committed to enhancing security measures, risk systems, and security investments following this upgrade.
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