ETH

CoinEx Reportedly Hacked for More Than $27 Million

by BSCN

September 12, 2023

Cryptocurrency exchange, CoinEx, may be the latest high-profile victim of malicious on-chain activity, with various Twitter accounts pointing to more than $27 million in suspicious token outflows.

Alarm bells are ringing with 2017-founded cryptocurrency exchange, CoinEx, reported to be experiencing suspicious outflows from its hot wallets to the tune of more than $27 million.

According to Wu Blockchain, the exchange has so far lost $27.8 million across specific chains, Ethereum (ETH), Tron (TRX), and Polygon (MATIC).

Further comments from Wu Blockchain claim that CoinEx is in the process of moving assets from the exposed hot wallets to a cold storage address.

Various cybersecurity accounts on X (Twitter) are pointing to a certain Etherscan page as evidence of the reported outflows.

At time of writing, CoinEx has seen nearly $30 million in 24-hour trading volume, according to CoinMarketCap.

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