CoinEx Published FAQ on Recent Hack, Addresses Community Concerns
A special team is thoroughly investigating the hack design and potential damage. Also, it completely reconsidered the security mechanisms of the exchange to prevent similar attacks from happening again....
- Crypto exchange CoinEx experienced a hack on September 12, resulting in the compromise of one of its hot wallets.
- Immediate actions were taken, including suspending deposits and withdrawals, shutting down the hot wallet server, and transferring remaining assets to secure cold storage.
- CoinEx initiated investigations into the attack and contacted peer exchanges to freeze related assets.
- CEO Haipo Yang expressed regret and reassured users that their funds will not be impacted.
- CoinEx released a FAQ addressing user concerns about restoration of withdrawal services, compensation for stolen assets, and future security plans.
- The team aims to reopen withdrawals once stringent security checks are passed and a new wallet system is deployed.
- CoinEx's other product lines operate independently and are not impacted by the security incident.
- The team is committed to a 100% compensation program, estimating approximately $70 million worth of assets lost.
- The identity of the attacker is still under investigation, and communication channels with the hackers have been opened.
- CoinEx plans to enhance security protocols, increase vulnerability assessments, and introduce CoinEx Credit Risk Funds for better response capabilities.
The article provides updates on CoinEx's response to a hack, highlighting the actions taken, reassurances to users, and plans for recovery and security enhancement. The overall sentiment is neutral, focusing on the steps being taken to address the incident.