Cryptocurrency exchange CoinEx was the target of a hacker attack this Tuesday (12). According to Blockchain security platform Cyvers Alerts, outflows totaled around $27 million. In other words, more than R$130 million at the current exchange rate in reais.
“🚨 Code Red 🚨 Our AI-based model [Inteligência Artificial] detected suspicious transactions related to CoinEx 2 hours ago. Potentially stolen funds total $18.12 million in ETH, $8.5 million in Tron [TRX] e US$ 291 mil em Polygon [MATIC]. Possible causes: access control violations, private key leak, rug pulling, inside job,” he wrote o Cyvers Alerts na rede social X.
CoinEx confirmed the incident on its X social network account. The exchange reported that immediate action is underway to resolve the incident.
“Our Risk Control System detected anomalous withdrawals from multiple hot wallet addresses used to store CoinEx exchange assets. Promptly recognizing the seriousness of the situation, we immediately established a special investigation team to investigate the matter.
CoinEx confirms hacker attack
“Preliminary assessments indicate unauthorized transactions involving $ETH, $TRON and $MATIC. The exact amount of the loss is still being determined and the affected fund represents only a small portion of CoinEx’s total assets,” the exchange said.
ConEx further stated that users’ assets are “safe and untouched” and assured that affected parties will receive 100% compensation for any loss due to this breach. Finally, for greater security, the exchange informed that deposit and withdrawal services are temporarily suspended and will resume after a complete analysis.
“You have our solemn promise that a detailed timeline and comprehensive report on this incident will be shared with the community as soon as possible. In these challenging times, we sincerely seek your understanding and patience. Our priority has always been and will continue to be the security and trust of our users. We deeply regret any distress this may have caused and assure you of our unwavering dedication to safeguarding your interests.”
Minutes after the first official statement, CoinEx informed CriptoFácil that it had identified and isolated the suspicious wallet addresses linked to the hacker attack:
The company further said that it is actively collaborating with the affected cryptocurrency projects to formulate a solution. Furthermore, he urged crypto projects and other exchanges to remain vigilant.
Blockchain-focused security firm PeckShield also warned for suspicious movements: “Suspicious withdrawal of large funds from CoinEx hot wallets.”
Crypto-focused journalist Colin Wu provided more information on the case. He tweeted that after the alleged attack, CoinEX moved the affected assets from the hot wallet to the cold wallet address 0xf54…7E5d.
“CoinEX wallets currently hold $97.83 million in assets, of which $89 million is stored in the cold wallet address 0xf54…7E5d, mainly ETH worth $51.7 million and USDT $18.23 millions”, he wrote he.
Founded in 2017, CoinEx is one of the oldest cryptocurrency exchanges. At the time of writing, CoinEx recorded nearly $30 million in 24-hour trading volume, according to CoinMarketCap.
UPDATE: News updated to include confirmation and positioning from CoinEx.