CoinEx hack: Compromised private keys led to $70M theft
Cointelegraph
19 Sep 2023 7:48 AM
Cryptocurrency exchange CoinEx attributes a $70 million hack to compromised hot wallet private keys as it rebuilds its wallet system to restore services....
- Hong Kong-based cryptocurrency exchange CoinEx experienced a security breach, resulting in the theft of over $70 million worth of tokens.
- The exchange believes that compromised private keys for its hot wallets were the root cause of the breach.
- CoinEx is working on building and deploying a new wallet architecture to restore functionality and compensate affected users.
- The exchange suspects the North Korean Lazarus Group hackers to be responsible for the breach.
- CoinEx has suspended its withdrawal service temporarily and expects to resume withdrawals within seven working days.
The sentiment of the article is negative due to the security breach and theft of funds. However, there is a positive sentiment towards CoinEx's efforts to restore functionality and compensate affected users.
You May Ask
How much money was stolen in the CoinEx security breach?What is CoinEx doing to restore functionality and compensate affected users?Who is suspected to be responsible for the security breach?When will CoinEx resume its withdrawal service?How does the CoinEx security breach compare to other cryptocurrency hacks attributed to North Korean hackers?