CoinEx Crypto Exchange Hit by $28 Million Exploit, Four Hot Wallets Drained

On September 12, CoinEx, a cryptocurrency exchange, experienced a suspected attack following a substantial outflow from four of its hot wallets, which was promptly detected and reported by the blockchain security firm Cyvers. According to Cyvers Alert, the breach resulted in losses exceeding $27 million across the hot wallets. All the stolen funds were funneled into a wallet devoid of any prior transaction history, and this immediately raised red flags for the security firm. As per Etherscan data, the 4 CoinEx hot wallet initiated a series of substantial transfers. The sequence commenced with the movement of approximately 4,947 Ether, equivalent to $7.9 million at the time.

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