Home Fear & Greed Pools Wallets Dictionary Advertise Facebook Twitter Telegram Reddit Youtube
Market Cap:
24h Vol:
Cryptocurrencies: 12762
Markets: 99573
CoinInsight360.com logo CoinInsight360.com logo
ENG
EST
RUS
TUR
DEU
CHI
KOR
ITA
USD
USD
AED
AFN
ALL
AMD
ANG
AOA
ARS
AUD
AWG
AZN
BAM
BBD
BDT
BGN
BHD
BIF
BMD
BND
BOB
BRL
BTN
BWP
BYN
BZD
CAD
CDF
CHF
CLF
CLP
CNH
CNY
COP
CRC
CUC
CUP
CVE
CZK
DJF
DKK
DOP
DZD
EGP
ERN
ETB
EUR
FJD
FKP
GBP
GEL
GHS
GIP
GMD
GNF
GTQ
GYD
HKD
HNL
HRK
HTG
HUF
IDR
ILS
IMP
INR
ISK
JMD
JOD
JPY
KES
KGS
KHR
KMF
KPW
KRW
KWD
KYD
KZT
LAK
LBP
LKR
LRD
LSL
LYD
MAD
MDL
MGA
MKD
MMK
MNT
MOP
MRU
MUR
MVR
MWK
MXN
MYR
MZN
NAD
NGN
NIO
NOK
NPR
NZD
OMR
PAB
PEN
PGK
PHP
PKR
PLN
PYG
QAR
RON
RSD
RUB
RWF
SAR
SBD
SCR
SDG
SEK
SGD
SHP
SLL
SRD
SSP
STD
STN
SVC
SYP
SZL
THB
TJS
TMT
TND
TOP
TRY
TTD
TWD
TZS
UAH
UGX
UYU
UZS
VES
VND
VUV
WST
ZAR
ZMW
ZWL
A company that is changing the way the world mines bitcoin

WallStreet Forex Robot 3.0
Market Cap
24h Vol
12762
Cryptocurrencies
58.67%
Bitcoin Share
Crypto Potato 2025-01-23 14:39:43

Phemex Hot Wallet Breach: $29 Million in Crypto Potentially Drained

Phemex Hot Wallet Breach: $29 Million in Crypto Potentially Drained

Singapore-based cryptocurrency exchange Phemex has fallen victim to a reported hack, continuing the trend of security vulnerabilities in digital asset exchanges. Meir Dolev, the co-founder and CTO of blockchain security firm Cyvers, issued an urgent alert on January 23rd regarding suspicious activity involving one of Phemex’s hot wallets. Dolev detected 125 suspicious transactions across 11 blockchain networks, including Binance Smart Chain (BNB), Ethereum (ETH), Optimism (OP), Polygon (POL), Base, and Arbitrum (ARB). Over $29 million worth of digital assets have reportedly been drained so far, while some of the tokens and stablecoins have already been swapped to avoid freezing. This was further confirmed by Hacken’s update , which revealed that the hacker’s address (0x5B344) received stolen funds and quickly distributed them to two other addresses. Specifically, the perpetrator transferred 744,696 USDT to address 0x17BCC and 1,767,957 USDC to address 0x6C42F. Both receiving addresses swiftly converted these stablecoins into Ethereum to evade potential blacklisting that could freeze the stolen assets. Shortly thereafter, Phemex CEO Federico Variola said that the team is looking into one of the exchange’s hot wallets. The cold wallets, however, remain safe. In its statement , Phemex announced the temporary suspension of withdrawals but assured that there had been no disruptions in its business operations and that trading services continue as usual. “To ensure security, withdrawals have been temporarily suspended while we conduct an emergency inspection and strengthen wallet services. We sincerely apologize for the inconvenience. Withdrawals will be restored soon.” Phemex also added that the team is currently working on a compensation plan for those affected. The post Phemex Hot Wallet Breach: $29 Million in Crypto Potentially Drained appeared first on CryptoPotato .

Most Read News



Cryptohopper
Market Cap
24h Vol
58.67%
Bitcoin Share
263
Today News
Read the Disclaimer : All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer.