Crypto exchange CoinEx Global has fallen victim to a security breach, resulting in a significant estimated loss of around $43 million in various crypto.
The exchange is diligently working to assess the full extent of the damage caused by this security exploit. Wednesday morning, CoinEx has reported the discovery of a second set of suspicious wallet addresses associated with the breach.
These malicious addresses were responsible for the unauthorized transfer of cryptocurrencies, including Ether, XRP, Solana, Kadena, and Dagger.
Before CoinEx provided its latest update, the blockchain security firm PeckShield had estimated on Wednesday that the total loss incurred by the exchange was in the ballpark of US$43 million.
The initial group of addresses linked to the security breach had already pilfered cryptocurrencies like Ether, Bitcoin, and Tron from CoinEx’s platform.
To reassure its users, CoinEx issued a notice via its official communication channels shortly after the attack occurred on Tuesday.
The exchange emphasized that all user assets remained secure and unaffected by the breach. As a precautionary measure, CoinEx has temporarily suspended deposit and withdrawal services.
Furthermore, the exchange has vowed to provide full compensation to any users who have suffered losses as a result of this unfortunate incident.
It’s disheartening to note that incidents like these are not isolated cases. Last year, hackers managed to steal more than US$3.8 billion in cryptocurrencies, according to the blockchain forensics firm Chainalysis.
Out of this staggering amount, cyber actors linked to North Korea were responsible for hacking approximately US$1.7 billion.