{"id":552225,"date":"2023-09-21T04:00:22","date_gmt":"2023-09-21T04:00:22","guid":{"rendered":"https:\/\/wncen.com\/?p=552225"},"modified":"2023-09-20T18:32:55","modified_gmt":"2023-09-20T18:32:55","slug":"coinex-to-resume-deposits-and-withdrawals-after-exploit","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/coinex-to-resume-deposits-and-withdrawals-after-exploit\/","title":{"rendered":"CoinEx Update: Exchange Set To Resume Deposits And Withdrawals After Exploit"},"content":{"rendered":"

CoinEx, a cryptocurrency exchange, has announced plans to resume its deposit and withdrawal services. The crypto platform was forced to shut down operations after roughly <\/span>$70 million worth of cryptocurrencies were drained from its hot wallets<\/span><\/a> a week ago.<\/span><\/p>\n

On Saturday, September 16, the CoinEx team offered an update<\/a> on their investigation, which showed that 18 different crypto assets, including BTC, ETH, XRP, and BCH, were stolen from the exchange. The exchange, however, asserted that assets in its cold wallets were not affected by the September 12 attack.<\/span><\/p>\n

Furthermore, CoinEx revealed that it is working with various blockchain security firms to trace the hackers\u2019 addresses and recover the stolen assets. Interestingly, many security organizations and <\/span>on-chain investigators have linked the attack<\/span><\/a> to the North Korean hacker group Lazarus Group.<\/span><\/p>\n

CoinEx To Allow Deposit And Withdrawal Of These Cryptocurrencies<\/span><\/h2>\n

In the latest update published on September 20, CoinEx <\/span>disclosed its plans<\/span><\/a> to resume deposit and withdrawal services for certain crypto assets on Thursday, September 21. Users will be able to interact with about ten cryptocurrencies, including Bitcoin (BTC), Ether (ETH), USDT (on the ERC20 and TRC20 networks), USDC (on the ERC20 network), Tron (TRX), Binance Coin (BNB), etc.<\/span><\/p>\n

Related Reading: Ethereum-Based Balancer Under Attack, Users Receive Warning<\/a><\/div>\n

As per the announcement, CoinEx will resume operations after implementing a new wallet system. During this process, the deposit addresses for certain tokens will be upgraded and new ones will be generated for all users.<\/p>\n

However, CoinEx warned users not to deposit into any old wallet addresses, as this could result in the permanent loss of transferred assets. The crypto exchange added:<\/span><\/p>\n

Please be sure to double-check that you are using the new address before depositing.<\/span><\/p><\/blockquote>\n

After addressing that, CoinEx assured users that it will gradually resume deposits and withdrawals for other cryptocurrencies.\u00a0<\/span><\/p>\n

The crypto exchange also asked customers to exercise patience, as there may be many pending withdrawals over the next few days. Hence, processing all withdrawal requests for the available assets may take longer than usual.<\/span><\/p>\n

Will Users Be Able To Withdraw 100% Funds?<\/span><\/h2>\n

CoinEx has maintained that users\u2019 assets were not lost in this exploit. In the September 16 update, the company said that its User Asset Security Foundation would cover the financial losses from the incident.<\/span><\/p>\n

Moreover, CoinEx CEO Haipo Yang <\/span>posted on X<\/span><\/a> (formerly Twitter) two days after the attack, assuring \u201caffected users\u201d of 100% compensation. \u201cYour assets with CoinEx remain safe. That\u2019s our commitment to all of you,\u201d Yang added.<\/span><\/p>\n

Related Reading: Hodlnaut Refuses OPNX\u2019s $30 Million Offer After FLEX Token Declines By 90%<\/a><\/div>\n

CoinEx claims it has always implemented a 100% reserve policy to ensure user asset protection in the face of security threats. And the crypto exchange promised to improve its security infrastructure and invest more in its risk systems.<\/span><\/p>\n

\"CoinEx\"<\/p>\n

The cryptocurrency total market cap on the daily timeframe | Source: TOTAL chart on TradingView<\/a><\/pre>\n
 <\/p>\n
Featured image from Unsplash, chart from TradingView<\/div>\n","protected":false},"excerpt":{"rendered":"
CoinEx, a cryptocurrency exchange, has announced plans to resume its deposit and withdrawal services. The crypto platform was forced to shut down operations after roughly $70 million worth of cryptocurrencies were drained from its hot wallets a week ago. On Saturday, September 16, the CoinEx team offered an update on their investigation, which showed that 18 different crypto assets, including BTC, ETH, XRP, and BCH, were stolen from the exchange. The exchange, however, asserted that assets in its cold wallets were not affected by the September 12 attack. Furthermore, CoinEx revealed that it is working with various blockchain security firms to trace the hackers\u2019 addresses and recover the stolen assets. Interestingly, many security organizations and on-chain investigators have linked the attack to the North Korean hacker group Lazarus Group. CoinEx To Allow Deposit And Withdrawal Of These Cryptocurrencies In the latest update published on September 20, CoinEx disclosed its plans to resume deposit and withdrawal services for certain crypto assets on Thursday, September 21. Users will be able to interact with about ten cryptocurrencies, including Bitcoin (BTC), Ether (ETH), USDT (on the ERC20 and TRC20 networks), USDC (on the ERC20 network), Tron (TRX), Binance Coin (BNB), etc. Related Reading: Ethereum-Based Balancer Under Attack, Users Receive Warning As per the announcement, CoinEx will resume operations after implementing a new wallet system. During this process, the deposit addresses for certain tokens will be upgraded and new ones will be generated for all users. However, CoinEx warned users not to deposit into any old wallet addresses, as this could result in the permanent loss of transferred assets. The crypto exchange added: Please be sure to double-check that you are using the new address before depositing. After addressing that, CoinEx assured users that it will gradually resume deposits and withdrawals for other cryptocurrencies.\u00a0 The crypto exchange also asked customers to exercise patience, as there may be many pending withdrawals over the next few days. Hence, processing all withdrawal requests for the available assets may take longer than usual. Will Users Be Able To Withdraw 100% Funds? CoinEx has maintained that users\u2019 assets were not lost in this exploit. In the September 16 update, the company said that its User Asset Security Foundation would cover the financial losses from the incident. Moreover, CoinEx CEO Haipo Yang posted on X (formerly Twitter) two days after the attack, assuring \u201caffected users\u201d of 100% compensation. \u201cYour assets with CoinEx remain safe. That\u2019s our commitment to all of you,\u201d Yang added. Related Reading: Hodlnaut Refuses OPNX\u2019s $30 Million Offer After FLEX Token Declines By 90% CoinEx claims it has always implemented a 100% reserve policy to ensure user asset protection in the face of security threats. And the crypto exchange promised to improve its security infrastructure and invest more in its risk systems. The cryptocurrency total market cap on the daily timeframe | Source: TOTAL chart on TradingView   Featured image from Unsplash, chart from TradingView<\/p>\n","protected":false},"author":590,"featured_media":552240,"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":[15285,12307,89452],"class_list":["post-552225","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-coinex","tag-crypto-exchange","tag-haipo-yang"],"acf":[],"yoast_head":"\nCoinEx Update: Exchange Set To Resume Deposits And Withdrawals After Exploit<\/title>\n<meta name=\"description\" content=\"Cryptocurrency exchange CoinEx has announced the proposed resumption of deposit and withdrawal services after the $70 million exploit.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, 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While the digital asset industry was not his first choice, he has remained absolutely drawn since making a foray into the space over two years. Now, Opeyemi takes pride in creating unique pieces unraveling the complexities of blockchain technology and sharing insights on the latest trends in the world of cryptocurrencies. Opeyemi savors his attraction to the crypto market, which explains why he spends the better parts of his day looking through different price charts. \u201cLooking\u201d is a rather simple way to describe analyzing and interpreting various price patterns and chart formations. However, it appears that is not Opeyemi\u2019s favorite part - in fact, far from it. Being able to connect what happens on a price chart to on-chain movements and blockchain activities is what keeps Opeyemi ticking. \u201cThis emphasizes the intricacies of blockchain technology and the cryptocurrency market,\u201d he would say. Most importantly, Opeyemi thinks of any market insights as the gospel, while recognizing that he is only a messenger. When he is not clicking away at his keyboard, Opeyemi is most definitely listening to music, playing games, reading a book, or scrolling through X. He likes to think he is not loyal to a particular genre of music, which can be true on many days. However, the fast-rising Afrobeats genre is a staple in Opeyemi\u2019s Spotify Daily Mix. Meanwhile, Opeyemi is a voracious reader who enjoys a wide category of books - ranging from science fiction, fantasy, and historical, to even romance. He believes that authors like George R. R. Martin and J. K. Rowling are the greatest of all time when it comes to putting pen to paper. Opeyemi believes his reading of the Harry Potter series twice is proof of that. Indeed, Opeyemi enjoys spending most of his time within the four walls of his home. However, he also sometimes finds solace in the company of his friends at a bar, a restaurant, or even on a stroll. In essence, Opeyemi\u2019s ambivert (haha! been searching for an opportunity to use the word to describe myself) nature makes him a social chameleon who is able to quickly adapt to different settings. Opeyemi recognizes the need to constantly develop oneself in order to stay afloat in a competitive and ever-evolving market like crypto. For this reason, he is always in learning mode, ready to pick up the slightest lesson from every situation. Opeyemi is efficient and likes to deliver all that is required of him in time - he believes that \u201cwhatever is worth doing at all is worth doing well.\u201d Hence, you will always find him striving to be better. Ultimately, Opeyemi is a good writer and an even better person who is trying to shed light on an exciting world phenomenon - cryptocurrency. He goes to bed every day with a smile of satisfaction on his face, knowing that he has done his bit of the holy assignment - spreading the crypto gospel to the rest of the world.","sameAs":["https:\/\/www.linkedin.com\/in\/opeyemi-sule-027bb5227","https:\/\/x.com\/https:\/\/twitter.com\/fwOpeyemi"],"url":"https:\/\/wncen.com\/author\/oluwatosino\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"CoinEx Update: Exchange Set To Resume Deposits And Withdrawals After Exploit","url":"http:\/\/wncen.com\/news\/coinex-to-resume-deposits-and-withdrawals-after-exploit\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/coinex-to-resume-deposits-and-withdrawals-after-exploit\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/09\/photo-91-cf89dd7fc73a.jpeg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/09\/photo-91-cf89dd7fc73a.jpeg?fit=1000%2C667"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Opeyemi Sule"}],"creator":["Opeyemi Sule"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["coinex","crypto exchange","haipo yang"],"dateCreated":"2023-09-21T04:00:22Z","datePublished":"2023-09-21T04:00:22Z","dateModified":"2023-09-21T04:00:22Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"CoinEx Update: Exchange Set To Resume Deposits And Withdrawals After Exploit\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/coinex-to-resume-deposits-and-withdrawals-after-exploit\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/coinex-to-resume-deposits-and-withdrawals-after-exploit\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/09\\\/photo-91-cf89dd7fc73a.jpeg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/09\\\/photo-91-cf89dd7fc73a.jpeg?fit=1000%2C667\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Opeyemi Sule\"}],\"creator\":[\"Opeyemi Sule\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"coinex\",\"crypto exchange\",\"haipo yang\"],\"dateCreated\":\"2023-09-21T04:00:22Z\",\"datePublished\":\"2023-09-21T04:00:22Z\",\"dateModified\":\"2023-09-21T04:00:22Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/09\/photo-91-cf89dd7fc73a.jpeg?fit=1000%2C667","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/552225"}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/590"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=552225"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/552225\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/552240"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=552225"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=552225"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=552225"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}