CoinEx hot wallets appear to be drained of nearly $28 million in crypto

Companies • September 12, 2023, 11:44AM EDT
Published 1 minute earlier on
The Block

Quick Take

  • Hot wallets associated with the crypto exchange CoinEx was drained of cryptocurrency Tuesday. 
  • CoinEx lost 4,946 ETH and 354,762 TRX in what appears to be an ongoing drain.

Crypto exchange CoinEx appeared to be suffering an exploit Tuesday that drained four of hot wallets of nearly $28 million in cryptocurrency, according to on chain data

"Hi @coinexcom, suspicious outflow of large funds from #coinex hot wallets," blockchain security firm PeckShield wrote on X.

The exploit appears to have effected wallets with 4,946 ETH -1.45% and 354,762 TRX -1.54% thus far. 
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The drain appears to be ongoing. CoinEx did not immediately respond to The Block's request for comment. 


© 2023 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

About Author

MK Manoylov has been a reporter for The Block since 2020 — joining just before bitcoin surpassed $20,000 for the first time. Since then, MK has written nearly 1,000 articles for the publication, covering any and all crypto news but with a penchant toward NFT, metaverse, web3 gaming, funding, crime, hack and crypto ecosystem stories. MK holds a graduate degree from New York University's Science, Health and Environmental Reporting Program (SHERP) and has also covered health topics for WebMD and Insider. You can follow MK on X @MManoylov and on LinkedIn.

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