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CoinEx exchange hacked, $27M crypto moved.

Crypto exchange CoinEx encountered an unusual situation on September 12, as significant amounts of funds were transferred to an address with no previous transaction history.

This event has raised concerns among security experts, suggesting a potential hack on the exchange.

Cybersecurity platform Cyvers Alerts has estimated the losses from this incident to be around $27 million.

On September 12, at approximately 1:21 p.m. UTC, a hot wallet associated with CoinEx exchanged hands,

transferring approximately 4,947 Ether (equivalent to $7.9 million at the time) to the Ethereum account with the address 0x8bf8cd7F001D0584F98F53a3d82eD0bA498cC3dE.

Notably, this receiving account had no previous transaction history prior to this specific transfer.

Following the initial transaction, the CoinEx hot wallet immediately initiated a series of substantial token transfers to the same address.

Notably, the wallet transferred approximately 408,741 DAI stablecoin, 2.7 million Graph (GRT) tokens,

29,158 Uniswap (UNI) tokens, and various other tokens.

PeckShield, a blockchain security firm, labeled these outflows as “suspicious.”

The head of research at CryptoQuant, Julio Moreno, also commented on the peculiar actions of the CoinEx wallet, highlighting the depletion of Ether reserves as a notable observation.

As of now, CoinEx has not issued a public statement regarding the incident.

Crypto Scams and Hacking are getting out of hands lately, CoinEx is not the first and wont be the last,

For instance, reports indicate that Vitalik Buterin, the co-founder of Ethereum, has allegedly suffered a compromise of his X (formerly Twitter) account.

and has resulted in victims losing a combined total of over $691,000 after falling prey to a malicious link.

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