Cryptocurrency exchange CoinEx plans to transfer crypto assets to a new hot wallet system by September 24, after which withdrawals will resume. Representatives of the trading platform reported this in a commentary to ForkLog regarding the hacking of the exchange on September 12.
According to preliminary estimates from CoinEx, the attackers stole about $70 million in various crypto assets. The exchange claims that they were able to access the private keys of the hot wallets:
“During the investigation, we determined that the main reason for the hack was the compromise of the private keys of hot wallets, which temporarily store exchange assets for transactions.
We have suspended withdrawals to protect user assets, patched vulnerabilities, and safely moved remaining assets to cold wallets.
The Coinex team is currently rolling out a completely new wallet system to work with 211 blockchains and 737 assets. We expect to launch this week, after which we will gradually resume withdrawals.”
At the time of publication, reconstruction of the CoinEx hot wallet system completed by 50%.
In its commentary, the crypto exchange neither confirmed nor denied the information about the involvement of the DPRK-backed Lazarus Group in the hacking:
“We are still investigating the identity of the attacker, although we have taken note of statements from a number of companies that these actions were carried out by a specific hacker group. CoinEx’s primary goal at this time is to quickly create and deploy a new wallet architecture.”
On September 15, the trading platform published open letter to hackers in X. In it, CoinEx expressed hope that they would contact representatives of the exchange and “come to a reasonable solution.”
Let us remind you that CoinEx promised 100% compensation for losses to users affected by the hack.
Found an error in the text? Select it and press CTRL+ENTER
ForkLog newsletters: keep your finger on the pulse of the Bitcoin industry!