Hackers Gained Access to Hot Wallets, Triggering a $70 Million Theft
Hong Kong-based cryptocurrency exchange CoinEx has revealed that hackers were able to steal over $70 million worth of tokens due to compromised private keys. The exchange is actively working to address the security breach and restore affected users’ assets and platform functionality.
#CoinExResponseUpdate – CoinEx Team Work Progress Update
On September 16th, here’s the update on the CoinEx team’s investigation and actions regarding the hack(details in threads): pic.twitter.com/6UGGjKyBiF
— CoinEx Global (@coinexcom) September 16, 2023
Compensation for Affected Users
Despite the significant theft, CoinEx has stated that the stolen amount represents only a small percentage of its total assets under management. The exchange has committed to compensating affected users in full for their losses.
2/ We’ve finalized our strategy to resume withdrawals and are set to progressively resume these services within 7 working days. Ensuring 100% asset security remains our top priority before reactivating withdrawal functionalities.
— CoinEx Global (@coinexcom) September 18, 2023
Ongoing Investigation and Communication with Hackers
CoinEx is still investigating the identity of the individuals responsible for the security breach. Several blockchain security firms have attributed the hack to North Korean “Lazarus Group” hackers. The exchange has also initiated communication channels with the hackers in an attempt to reach a mutually agreeable resolution.
