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Crypto exchange – CoinEx – has reportedly fallen victim to a hack, with its Ethereum [ETH], TRON, and Polygon [MATIC] wallets affected. According to Chinese reporter – Colin Wu – the exchange has lost over $27 million to the hack. Even PeckShield – a blockchain analytics company – raised the alarms on the “suspicious outflow of large funds” from the exchange’s hot wallet.
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Additionally, since the incident surfaced, CoinEx has started to move its remaining crypto assets from its hot wallet to its cold wallet. As per Wu, the cold wallet holds $89 million in assets, with ETH and USDT accounting for $51.7 million and $18.23 million respectively.
As of press time, CoinEx has not released any official statement regarding a hack or speculations on the reason for the massive outflows. However, it has announced to its customers that it will start a wallet maintenance. This is scheduled to take place from 23:18:30 (UTC+8) on 12th September, which effectively suspends deposit and withdrawal services.
Moreover, the hack of over $27 million in ETH, MATIC, and TRON does not seem to have had any impact on their prices. The coins have shown little to no change in the past hour, according to CoinMarketCap. Meanwhile, they were all painted in green in the 24-hour chart, with TRON showing the highest gain with over 5% increase.
Crypto hacks taking over the market?
Notably, CoinEx is not the only crypto firm to have a hack next to its name in the headlines. The past few days have seen multiple hacks taking over the market. This even includes the hack of the X, formerly Twitter, account of Vitalik Buterin – the creator of the second largest crypto, Ethereum [ETH]. This event even had the price of ETH taking a dip.
The story is still developing…