The cryptocurrency exchange CoinEx is making a
comeback after a devastating $70 million hack. The exchange announced on Friday
that it had taken measures to rebuild its wallet system and ensure the safety
and security of its users’ assets.
As a result, CoinEx is now gradually resuming deposit
and withdrawal services for a substantial number of cryptocurrencies, totaling
190. The platform asked users today (Friday) to use new deposit addresses to
prevent permanent loss of assets.
“The wallet system is operating safely and
steadily at present. We will gradually resume deposit and withdrawal services
for the remaining 500+ cryptos,” the exchange said today (Friday).
“Since the resuming operations will be processed frequently, there will be
no further or separate announcements for each crypto.”
1/ #CoinExResponseUpdate – This week, we’ve resumed deposit & withdrawal services for 190+ cryptocurrencies, including $BTC, $ETH, $USDT, & $USDC. Our new wallet system is currently running both securely and efficiently.
Announcement: https://t.co/3ij50mCHiA pic.twitter.com/dBeBu0IXre
— CoinEx Global (@coinexcom) September 22, 2023
The exchange has implemented a 100% asset reserve
policy, providing an added layer of protection against potential security
threats. Notably, CoinEx assured its users that their assets were not affected
by the hack and that any financial losses would be covered by CoinEx’s User
Asset Security Foundation.
The exchange found itself amid a security crisis
after suffering a suspected hack this month that has compelled the platform to
halt all withdrawals. The incident was triggered by the detection of abnormal
withdrawals from several hot wallet addresses storing CoinEx’s exchange
