{"id":552225,"date":"2023-09-21T04:00:22","date_gmt":"2023-09-21T04:00:22","guid":{"rendered":"https:\/\/shenyangcang.com\/?p=552225"},"modified":"2023-09-20T18:32:55","modified_gmt":"2023-09-20T18:32:55","slug":"coinex-to-resume-deposits-and-withdrawals-after-exploit","status":"publish","type":"post","link":"https:\/\/shenyangcang.com\/news\/coinex-to-resume-deposits-and-withdrawals-after-exploit\/","title":{"rendered":"CoinEx Update: Exchange Set To Resume Deposits And Withdrawals After Exploit"},"content":{"rendered":"<p><span style=\"font-weight: 400\">CoinEx, a cryptocurrency exchange, has announced plans to resume its deposit and withdrawal services. The crypto platform was forced to shut down operations after roughly <\/span><a href=\"https:\/\/shenyangcang.com\/breaking-news-ticker\/breaking-crypto-exchange-coinex-reportedly-hit-by-massive-hack-losses-exceed-27-million\/\" target=\"_blank\" rel=\"noopener \"><span style=\"font-weight: 400\">$70 million worth of cryptocurrencies were drained from its hot wallets<\/span><\/a><span style=\"font-weight: 400\"> a week ago.<\/span><\/p>\n<p><span style=\"font-weight: 400\">On Saturday, September 16, the CoinEx team <a href=\"https:\/\/announcement.coinex.com\/hc\/en-us\/articles\/348-Latest-Progress-of-the-Hacking-Attack-on-Sep-12-2023-Updated-on-Sep-15-\" target=\"_blank\" rel=\"noopener nofollow\">offered an update<\/a> on their investigation, which showed that 18 different crypto assets, including BTC, ETH, XRP, and BCH, were stolen from the exchange. The exchange, however, asserted that assets in its cold wallets were not affected by the September 12 attack.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Furthermore, CoinEx revealed that it is working with various blockchain security firms to trace the hackers\u2019 addresses and recover the stolen assets. Interestingly, many security organizations and <\/span><a href=\"https:\/\/bitcoinist.com\/coinex-north-korean-lazarus-behind-hack\/amp\/\" target=\"_blank\" rel=\"noopener nofollow\"><span style=\"font-weight: 400\">on-chain investigators have linked the attack<\/span><\/a><span style=\"font-weight: 400\"> to the North Korean hacker group Lazarus Group.<\/span><\/p>\n<h2><span style=\"font-weight: 400\">CoinEx To Allow Deposit And Withdrawal Of These Cryptocurrencies<\/span><\/h2>\n<p><span style=\"font-weight: 400\">In the latest update published on September 20, CoinEx <\/span><a href=\"https:\/\/announcement.coinex.com\/hc\/en-us\/articles\/908-CoinEx-Will-Resume-Deposit-and-Withdrawal-Services-of-BTC-ETH-USDT-USDC-etc-Estimated-on-Sep-21-2023\" target=\"_blank\" rel=\"noopener nofollow\"><span style=\"font-weight: 400\">disclosed its plans<\/span><\/a><span style=\"font-weight: 400\"> to resume deposit and withdrawal services for certain crypto assets on Thursday, September 21. Users will be able to interact with about ten cryptocurrencies, including Bitcoin (BTC), Ether (ETH), USDT (on the ERC20 and TRC20 networks), USDC (on the ERC20 network), Tron (TRX), Binance Coin (BNB), etc.<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/shenyangcang.com\/news\/ethereum-based-balancer-under-attack-users-receive-warning\/\" target=\"_blank\" rel=\"noopener \">Ethereum-Based Balancer Under Attack, Users Receive Warning<\/a><\/div>\n<p>As per the announcement, CoinEx will resume operations after implementing a new wallet system. During this process, the deposit addresses for certain tokens will be upgraded and new ones will be generated for all users.<\/p>\n<p><span style=\"font-weight: 400\">However, CoinEx warned users not to deposit into any old wallet addresses, as this could result in the permanent loss of transferred assets. The crypto exchange added:<\/span><\/p>\n<blockquote><p><span style=\"font-weight: 400\">Please be sure to double-check that you are using the new address before depositing.<\/span><\/p><\/blockquote>\n<p><span style=\"font-weight: 400\">After addressing that, CoinEx assured users that it will gradually resume deposits and withdrawals for other cryptocurrencies.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">The crypto exchange also asked customers to exercise patience, as there may be many pending withdrawals over the next few days. Hence, processing all withdrawal requests for the available assets may take longer than usual.<\/span><\/p>\n<h2><span style=\"font-weight: 400\">Will Users Be Able To Withdraw 100% Funds?<\/span><\/h2>\n<p><span style=\"font-weight: 400\">CoinEx has maintained that users\u2019 assets were not lost in this exploit. In the September 16 update, the company said that its User Asset Security Foundation would cover the financial losses from the incident.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Moreover, CoinEx CEO Haipo Yang <\/span><a href=\"https:\/\/twitter.com\/yhaiyang\/status\/85333911\" target=\"_blank\" rel=\"noopener nofollow\"><span style=\"font-weight: 400\">posted on X<\/span><\/a><span style=\"font-weight: 400\"> (formerly Twitter) two days after the attack, assuring \u201caffected users\u201d of 100% compensation. \u201cYour assets with CoinEx remain safe. That\u2019s our commitment to all of you,\u201d Yang added.<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/shenyangcang.com\/news\/hodlnaut-refuses-opnxs-30-million-offer-after-flex-token-declines-by-90\/\" target=\"_blank\" rel=\"noopener \">Hodlnaut Refuses OPNX\u2019s $30 Million Offer After FLEX Token Declines By 90%<\/a><\/div>\n<p><span style=\"font-weight: 400\">CoinEx claims it has always implemented a 100% reserve policy to ensure user asset protection in the face of security threats. And the crypto exchange promised to improve its security infrastructure and invest more in its risk systems.<\/span><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-medium\" src=\"https:\/\/www.tradingview.com\/x\/k38wApd5\/\" alt=\"CoinEx\" width=\"1898\" height=\"1284\"><\/p>\n<pre style=\"text-align: center\">The cryptocurrency total market cap on the daily timeframe | Source: TOTAL chart on <a href=\"https:\/\/www.tradingview.com\/x\/k38wApd5\/\" target=\"_blank\" rel=\"noopener nofollow\">TradingView<\/a><\/pre>\n<p>&nbsp;<\/p>\n<div class=\"disclaimer-shortcode\">Featured image from Unsplash, chart from TradingView<\/div>\n","protected":false},"excerpt":{"rendered":"<p>CoinEx, a cryptocurrency exchange, has announced plans to resume its deposit and withdrawal services. The crypto platform was forced to shut down operations after roughly $70 million worth of cryptocurrencies were drained from its hot wallets a week ago. On Saturday, September 16, the CoinEx team offered an update on their investigation, which showed that 18 different crypto assets, including BTC, ETH, XRP, and BCH, were stolen from the exchange. The exchange, however, asserted that assets in its cold wallets were not affected by the September 12 attack. Furthermore, CoinEx revealed that it is working with various blockchain security firms to trace the hackers\u2019 addresses and recover the stolen assets. Interestingly, many security organizations and on-chain investigators have linked the attack to the North Korean hacker group Lazarus Group. CoinEx To Allow Deposit And Withdrawal Of These Cryptocurrencies In the latest update published on September 20, CoinEx disclosed its plans to resume deposit and withdrawal services for certain crypto assets on Thursday, September 21. Users will be able to interact with about ten cryptocurrencies, including Bitcoin (BTC), Ether (ETH), USDT (on the ERC20 and TRC20 networks), USDC (on the ERC20 network), Tron (TRX), Binance Coin (BNB), etc. Related Reading: Ethereum-Based Balancer Under Attack, Users Receive Warning As per the announcement, CoinEx will resume operations after implementing a new wallet system. During this process, the deposit addresses for certain tokens will be upgraded and new ones will be generated for all users. However, CoinEx warned users not to deposit into any old wallet addresses, as this could result in the permanent loss of transferred assets. The crypto exchange added: Please be sure to double-check that you are using the new address before depositing. After addressing that, CoinEx assured users that it will gradually resume deposits and withdrawals for other cryptocurrencies.\u00a0 The crypto exchange also asked customers to exercise patience, as there may be many pending withdrawals over the next few days. Hence, processing all withdrawal requests for the available assets may take longer than usual. Will Users Be Able To Withdraw 100% Funds? CoinEx has maintained that users\u2019 assets were not lost in this exploit. In the September 16 update, the company said that its User Asset Security Foundation would cover the financial losses from the incident. Moreover, CoinEx CEO Haipo Yang posted on X (formerly Twitter) two days after the attack, assuring \u201caffected users\u201d of 100% compensation. \u201cYour assets with CoinEx remain safe. That\u2019s our commitment to all of you,\u201d Yang added. Related Reading: Hodlnaut Refuses OPNX\u2019s $30 Million Offer After FLEX Token Declines By 90% CoinEx claims it has always implemented a 100% reserve policy to ensure user asset protection in the face of security threats. And the crypto exchange promised to improve its security infrastructure and invest more in its risk systems. The cryptocurrency total market cap on the daily timeframe | Source: TOTAL chart on TradingView &nbsp; Featured image from Unsplash, chart from TradingView<\/p>\n","protected":false},"author":590,"featured_media":552240,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[15285,12307,89452],"class_list":["post-552225","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-coinex","tag-crypto-exchange","tag-haipo-yang"],"acf":[],"yoast_head":"\n<title>CoinEx Update: Exchange Set To Resume Deposits And Withdrawals After Exploit<\/title>\n<meta name=\"description\" content=\"Cryptocurrency exchange CoinEx has announced the proposed resumption of deposit and withdrawal services after the $70 million exploit.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, 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