CoinEx Crypto Exchange Suspected to Be Hacked, Potential Losses of $27 Million Reported
Summary:
Crypto exchange CoinEx suspected to be hacked as large outflows of funds occurred to an unknown address. The losses are estimated at around $27 million. Initial transactions involved 4,947 ETH worth $7.9 million, followed by transfers of various tokens. CoinEx has not made a public statement about the incident yet. Ongoing story with more details to come.
Crypto exchange CoinEx is suspected to have been hacked after experiencing unusually large outflows of funds to an address that had no prior history. Security experts estimate the losses to be around $27 million, according to blockchain security platform Cyvers Alerts. The suspicious activity began when a known CoinEx hot wallet transferred approximately 4,947 Ether (ETH), worth $7.9 million at the time, to an Ethereum account that had no previous transaction history. Following this transfer, the hot wallet continued to send large amounts of tokens, such as 408,741 DAI stablecoin, 2.7 million Graph (GRT) tokens, and 29,158 Uniswap (UNI) tokens, to the same address. The outflow has been described as "suspicious" by blockchain security firm PeckShield, and CryptoQuant's head of research noted that the Ether reserves of the CoinEx wallet are now essentially empty. CoinEx has not yet issued a statement regarding the incident. This is an ongoing story, and additional details will be provided as they emerge.
Published At
9/12/2023 4:33:34 PM
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