CoinEx Has Restarted Deposits and Withdrawals for 346 Cryptocurrencies Following a Recent Hack

PUBLISHED: Sep 29 2023 @ 06:13 | Comments (0) | More info about Azeez Mustapha

In response to a recent $70 million hack attributed to North Korea’s Lazarus Group, CoinEx has successfully overcome technical challenges and is now reinstating services for 346 cryptocurrencies. For the latest information on available cryptocurrencies, users are encouraged to refer to official sources.

In a recent communication shared via the X platform (formerly known as Twitter), the team at CoinEx has candidly illuminated the intricate hurdles they’ve encountered while establishing validation points and achieving synchronization across multiple public chains.

Given the intricacies involved in configuring these validation points across a diverse range of public chains, the process demands time and diligence before full restoration of deposit and withdrawal services can be achieved. To stay abreast of these dynamic developments, we strongly urge our users to regularly check CoinEx’s official Fees Standard page and keep a close watch on our official social media channels.

It’s of utmost importance to emphasize that only the cryptocurrencies explicitly outlined in our latest announcement and featured on the Fees Standard page are currently available for deposit and withdrawal. Any claims or assertions suggesting otherwise should be treated with caution, as they may be misleading or linked to potential scams.

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Reassessing Security Measures Following a North Korean-Linked Hack
This move comes in the wake of a significant setback for CoinEx, as the exchange recently endured a substantial breach resulting in the loss of over $70 million worth of digital assets. The attack has been attributed to North Korea’s Lazarus Group, a notorious entity known for a series of cyberattacks aimed at pilfering digital assets.

In the ongoing year alone, it is estimated that North Korean hackers have managed to abscond with more than $200 million in cryptocurrency, underscoring the persistent menace these groups pose within the cryptocurrency arena.

CoinEx’s decision to reinstate services marks a noteworthy stride forward, demonstrating the exchange’s unwavering dedication to confronting security challenges and reintroducing users to a diverse array of cryptocurrencies.

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