{"id":551013,"date":"2023-09-12T16:09:11","date_gmt":"2023-09-12T16:09:11","guid":{"rendered":"https:\/\/wncen.com\/?p=551013"},"modified":"2024-06-11T10:46:41","modified_gmt":"2024-06-11T10:46:41","slug":"breaking-crypto-exchange-coinex-reportedly-hit-by-massive-hack-losses-exceed-27-million","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/breaking-crypto-exchange-coinex-reportedly-hit-by-massive-hack-losses-exceed-27-million\/","title":{"rendered":"BREAKING: Crypto Exchange CoinEX Reportedly Hit By Massive Hack, Losses Exceed $27 Million"},"content":{"rendered":"<p><span style=\"font-weight: 400\">In a concerning development, popular crypto exchange CoinEx is believed to have fallen victim to a suspected hack, resulting in significant losses from its Ethereum (ETH), TRON (TRX), and Polygon (MATIC) hot wallets.\u00a0<\/span><span style=\"font-weight: 400\">The incident, which unfolded on Tuesday, has sparked an ongoing investigation into the security breach.<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/wncen.com\/bitcoin-news\/bitcoin-forming-death-cross-happened-last-time\/\" target=\"_blank\" rel=\"noopener \">Bitcoin Forming Death Cross: Here\u2019s What Happened Last Time<\/a><\/div>\n<h2><span style=\"font-weight: 400\">Alarming Depletion O<\/span><span style=\"font-weight: 400\">f CoinEx ETH Reserves<\/span><\/h2>\n<p><a href=\"https:\/\/x.com\/WuBlockchain\/status\/09120508?s=20\" target=\"_blank\" rel=\"noopener nofollow\"><span style=\"font-weight: 400\">According <\/span><\/a><span style=\"font-weight: 400\">to reports by Colin Wu, a prominent cryptocurrency journalist, CoinEx reportedly lost a staggering 4,946 ETH and 354,762 TRX as part of the ongoing drain from the exchange&#8217;s wallets.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">The total value of the funds lost surpasses $27.8 million, adding to the growing list of high-profile cryptocurrency exchange breaches. In his latest update, Colin Wu stated:<\/span><\/p>\n<blockquote><p><span style=\"font-weight: 400\">CoinEX is moving the affected hot wallet assets to the cold wallet address 0xf54&#8230;7E5d. CoinEX wallets currently hold $97.83 million in assets, of which $89 million are stored in the cold wallet address 0xf54&#8230;7E5d, mainly ETH worth $51.7 million and USDT $18.23 million.\u00a0<\/span><\/p><\/blockquote>\n<p><span style=\"font-weight: 400\">What\u2019s more, In a concerning <\/span><a href=\"https:\/\/x.com\/jjcmoreno\/status\/74715362?s=20\" target=\"_blank\" rel=\"noopener nofollow\"><span style=\"font-weight: 400\">revelation<\/span><\/a><span style=\"font-weight: 400\">, Julio Moreno, the Head of Research at CryptoQuant, has shed light on the peculiar behavior surrounding CoinEx&#8217;s Ethereum reserves.\u00a0<\/span><\/p>\n<figure id=\"attachment_551016\" aria-describedby=\"caption-attachment-551016\" style=\"width: 860px\" class=\"wp-caption aligncenter\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"size-large wp-image-551016\" src=\"https:\/\/wncen.com\/wp-content\/uploads\/2023\/09\/F51hRWtXkAAHAwj.jpeg?w=860&#038;resize=860%2C542\" alt=\"CoinEx\" width=\"860\" height=\"542\" srcset=\"https:\/\/wncen.com\/wp-content\/uploads\/2023\/09\/F51hRWtXkAAHAwj.jpeg?w=4096 4096w, https:\/\/wncen.com\/wp-content\/uploads\/2023\/09\/F51hRWtXkAAHAwj.jpeg?w=460 460w, https:\/\/wncen.com\/wp-content\/uploads\/2023\/09\/F51hRWtXkAAHAwj.jpeg?w=768 768w, https:\/\/wncen.com\/wp-content\/uploads\/2023\/09\/F51hRWtXkAAHAwj.jpeg?w=860 860w, https:\/\/wncen.com\/wp-content\/uploads\/2023\/09\/F51hRWtXkAAHAwj.jpeg?w=1536 1536w, https:\/\/wncen.com\/wp-content\/uploads\/2023\/09\/F51hRWtXkAAHAwj.jpeg?w=2048 2048w, https:\/\/wncen.com\/wp-content\/uploads\/2023\/09\/F51hRWtXkAAHAwj.jpeg?w=750 750w, https:\/\/wncen.com\/wp-content\/uploads\/2023\/09\/F51hRWtXkAAHAwj.jpeg?w=1140 1140w, https:\/\/wncen.com\/wp-content\/uploads\/2023\/09\/F51hRWtXkAAHAwj.jpeg?w=3000 3000w\" sizes=\"auto, (max-width: 860px) 100vw, 860px\"><figcaption id=\"caption-attachment-551016\" class=\"wp-caption-text\">CoinEx&#8217;s Ethereum exchange reserve. Source: <a href=\"https:\/\/x.com\/jjcmoreno\/status\/74715362?s=20\" target=\"_blank\" rel=\"noopener nofollow\">Julio Moreno on X.<\/a><\/figcaption><\/figure>\n<p><span style=\"font-weight: 400\">The exchange has experienced a staggering depletion of its ETH holdings, with almost 5,000 ETH mysteriously vanishing within a single hour and a total loss of approximately 40,000 ETH since May. As a result, CoinEx&#8217;s ETH reserves now stand at virtually zero.<\/span><\/p>\n<p><span style=\"font-weight: 400\">CoinEx, however, has remained silent on the matter, refraining from issuing an official statement regarding the suspected hack.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">The depletion of CoinEx&#8217;s ETH reserves indicates a potentially grave situation, as it suggests a significant outflow of funds from the exchange. Such a rapid decline in ETH holdings may have severe implications for CoinEx&#8217;s liquidity and ability to meet customer withdrawal demands.<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/wncen.com\/news\/bitcoin\/bitcoin-price-end-of-year\/\" target=\"_blank\" rel=\"noopener \">Crypto Analyst Predicts Where Bitcoin Price Will Be By End Of Year<\/a><\/div>\n<p><span style=\"font-weight: 400\">CoinEx&#8217;s stakeholders and the wider cryptocurrency community will closely watch how the exchange responds to these developments. Complemented by transparent communication, swift and decisive action will be vital in navigating this challenging situation and working towards a resolution.<\/span><\/p>\n<figure style=\"width: 1814px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"size-large\" src=\"https:\/\/www.tradingview.com\/x\/Q8Xx4Bx1\/\" alt=\"CoinEx\" width=\"1814\" height=\"858\"><figcaption class=\"wp-caption-text\">The total crypto market cap reclaims the daily chart&#8217;s $1 trillion mark. Source: <a href=\"https:\/\/www.tradingview.com\/chart\/imgb0rW1\/\" target=\"_blank\" rel=\"noopener nofollow\">TOTAL on TradingView.com<\/a><\/figcaption><\/figure>\n<p><span style=\"font-weight: 400\">Featured image from iStock, chart from TradingView.com\u00a0<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>In a concerning development, popular crypto exchange CoinEx is believed to have fallen victim to a suspected hack, resulting in significant losses from its Ethereum (ETH), TRON (TRX), and Polygon (MATIC) hot wallets.\u00a0The incident, which unfolded on Tuesday, has sparked an ongoing investigation into the security breach. Related Reading: Bitcoin Forming Death Cross: Here\u2019s What Happened Last Time Alarming Depletion Of CoinEx ETH Reserves According to reports by Colin Wu, a prominent cryptocurrency journalist, CoinEx reportedly lost a staggering 4,946 ETH and 354,762 TRX as part of the ongoing drain from the exchange&#8217;s wallets.\u00a0 The total value of the funds lost surpasses $27.8 million, adding to the growing list of high-profile cryptocurrency exchange breaches. In his latest update, Colin Wu stated: CoinEX is moving the affected hot wallet assets to the cold wallet address 0xf54&#8230;7E5d. CoinEX wallets currently hold $97.83 million in assets, of which $89 million are stored in the cold wallet address 0xf54&#8230;7E5d, mainly ETH worth $51.7 million and USDT $18.23 million.\u00a0 What\u2019s more, In a concerning revelation, Julio Moreno, the Head of Research at CryptoQuant, has shed light on the peculiar behavior surrounding CoinEx&#8217;s Ethereum reserves.\u00a0 The exchange has experienced a staggering depletion of its ETH holdings, with almost 5,000 ETH mysteriously vanishing within a single hour and a total loss of approximately 40,000 ETH since May. As a result, CoinEx&#8217;s ETH reserves now stand at virtually zero. CoinEx, however, has remained silent on the matter, refraining from issuing an official statement regarding the suspected hack.\u00a0 The depletion of CoinEx&#8217;s ETH reserves indicates a potentially grave situation, as it suggests a significant outflow of funds from the exchange. Such a rapid decline in ETH holdings may have severe implications for CoinEx&#8217;s liquidity and ability to meet customer withdrawal demands. Related Reading: Crypto Analyst Predicts Where Bitcoin Price Will Be By End Of Year CoinEx&#8217;s stakeholders and the wider cryptocurrency community will closely watch how the exchange responds to these developments. Complemented by transparent communication, swift and decisive action will be vital in navigating this challenging situation and working towards a resolution. Featured image from iStock, chart from TradingView.com\u00a0<\/p>\n","protected":false},"author":589,"featured_media":551015,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[15285,6664,87520,12029,8580],"class_list":["post-551013","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-coinex","tag-crypto","tag-crypto-exploit","tag-crypto-hack","tag-cyber-attack"],"acf":[],"yoast_head":"\n<title>BREAKING: Crypto Exchange CoinEX Reportedly Hit By Massive Hack, Losses Exceed $27 Million<\/title>\n<meta name=\"description\" content=\"In a concerning development, crypto exchange CoinEx is believed to have fallen victim to a suspected hack, resulting in significant losses.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, 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Ronaldo recognizes that patterns exist within the chaos of crypto charts, and by utilizing technical analysis tools and indicators, he can unlock hidden opportunities and make informed investment decisions. His dedication to mastering this analytical approach has allowed him to navigate the volatile crypto market with confidence and precision. Ronaldo's commitment to his craft goes beyond personal gain. He is passionate about sharing his knowledge and insights with others, empowering them to make well-informed decisions in the crypto space. Ronaldo's writing is a testament to his dedication, providing readers with meaningful analysis and up-to-date news. He strives to offer a comprehensive understanding of the crypto industry, helping readers navigate its complexities and seize opportunities. Outside of the crypto realm, Ronaldo enjoys indulging in other passions. As an avid sports fan, he finds joy in watching exhilarating sporting events, witnessing the triumphs and challenges of athletes pushing their limits. Furthermore, His passion for languages extends beyond mere communication; he aspires to master German, French, Italian, and Portuguese, in addition to his native Spanish. Recognizing the value of linguistic proficiency, Ronaldo aims to enhance his work prospects, personal relationships, and overall growth. However, Ronaldo's aspirations extend far beyond language acquisition. He believes that the future of the crypto industry holds immense potential as a groundbreaking force in history. With unwavering conviction, he envisions a world where cryptocurrencies unlock financial freedom for all and become catalysts for societal development and growth. Ronaldo is determined to prepare himself for this transformative era, ensuring he is well-equipped to navigate the crypto landscape. Ronaldo also recognizes the importance of maintaining a healthy body and mind, regularly hitting the gym to stay physically fit. He immerses himself in books and podcasts that inspire him to become the best version of himself, constantly seeking new ways to expand his horizons and knowledge. With a genuine desire to become the best version of himself, Ronaldo is committed to continuous improvement. He sets personal goals, embraces challenges, and seeks opportunities for growth and self-reflection. 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