CoinEX hacked

Crypto world shocked by CoinEx exchange hack

By Yugocean | Crypto Champion | 13 Sep 2023

     The hacking of the CoinEx exchange has created a stir in the crypto world; reportedly, this hack cost CoinEx more than $20 million in tokens.

CoinEx confirms and responds to the hack

     The CoinEx exchange has confirmed the hack, but to prevent any panic, it has claimed that the exchange will compensate its investors 100%. Along with this, efforts have also been started to identify the hacker, and those wallet addresses have been made public, to which the unauthorised withdrawals were made.

Investor platforms are also in shock

     Many crypto platforms that had also invested their tokens in CoinEx for the purpose of distribution, etc., have had to lose their own tokens due to the hack, such as Bridge's BRG token. These platforms are sceptical of CoinEx's compensation promise and wonder how their tokens will be compensated. Their market prices have also fallen.

Bad condition of the market

     Recently, Ethereum founder Vitalik's X account was hacked, and ETH phishing caused the market to fall. The market was just recovering when the news of the CoinEx hack made it fall again. For example, Bitcoin has fallen again to the level of $25k, and Ethereum has fallen to the level of $1.5k.

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