Cryptocurrency exchange CoinEx attributes $70 million hack to compromised hot wallet private keys as it rebuilds its wallet system to restore services.
Hong Kong-based cryptocurrency exchange CoinEx has revealed that compromised private keys allowed hackers to steal over $70 million of tokens, while the team looks to open lines of communication to claw back funds.
Despite an estimated $70 million worth of cryptocurrency being stolen from the platform, the exchange claims this amount represents a small percentage of its total assets under management. CoinEx stated that affected users will be compensated entirely for any lost funds. “Additionally, we have opened communication channels to the hackers in hopes of proactive engagement toward a mutually agreeable resolution.”
“Our team is currently focused on building and deploying an entirely new and robust wallet system to handle activities within the 211 chains and 737 assets.”“anomalous withdrawals” from one of its hot wallets on Sept. 12, beginning with a transfer of 4,947 Ether . The hackers then began to withdraw large amounts of other tokens to the same address.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
CoinEx Invites Hackers to Negotiate, Promises Bug Bounty RewardCoinEx's current findings put the total amount stoken at an estimated $70 million.
Read more »
CoinEx Published FAQ on Recent Hack, Addresses Community ConcernsTop centralized exchange CoinEx answered questions regarding recent $70 million hack and future plans
Read more »
Save $70 on these excellent Bose headphonesThese Bose 700 UC headphones are discounted at B & H photos.
Read more »
US, Norway to launch Africa agriculture fund, commit $70 mlnThe United States and Norway will pledge a total of $70 million on Monday to launch a fund, reported here for the first time, to help farmers and agricultural businesses in Africa, a U.S. Agency for International Development (USAID) spokesperson said.
Read more »
| Another Day, Another Huge Off-Market Sale for Aspen’s High-End Home MarketInterior designer Holly Hunt has sold her roughly 13,000-square-foot home about a mile from city limits for $70 million.
Read more »
28% of Europeans think that safety is essential among crypto card paymentsDuring the last few years, the cryptocurrency ecosystem has been evolving rapidly. According to Statista, the cryptocurrency market is projected to re
Read more »