Hacked crypto exchange CoinEx set to resume deposits and withdrawals
- CoinEX will restore deposits and withdrawals for Bitcoin, Ethereum, other coins on September 21.
- Services follow an upgrade to the wallet system and generation of a new deposit address.
- Customers must use a new deposit address to avoid losing funds.
CoinEx, the crypto exchange that recently suffered a major exploit resulting in hackers stealing $70 million, has announced that it will resume deposits and withdrawals.
The exchange published an announcement on Wednesday notifying its customers that deposits and withdrawals would be accessible for several coins on Thursday, September 21 starting at 8:00 UTC.
Set to resume are transfers for Bitcoin (BTC), Ethereum (ETH), BNB (BNB) Litecoin (LTC), Dogecoin (DOGE) and Tron (TRX). Others are Bitcoin Cash (BCH), Shiba Inu (SHIB) and the stablecoins USDT and USDC. More assets will be opened for deposit and withdrawal as the exchange’s system returns to full functionality.
Customers asked to use new deposit addressCopy link to section
According to the CoinEx team, the resumption of services is expected to come after “the reconstruction and deployment of the wallet system” is completed. Customers have been asked to ensure they are using the new deposit address to avoid losing their money.
“CoinEx will upgrade the deposit addresses for the above assets at 8:00 Sep 21, 2023 (UTC), and generate new deposit addresses for all users. Please DO NOT use any old deposit addresses you may have saved – The old addresses will NO LONGER work and assets sent to them will be permanently lost,” the exchange warned.
Users have been warned that delays in withdrawals could occur.
Looking to invest?
Invest and trade CFD stocks, ETFs, digital assets & commodities in minutes with our highest-rated broker.
CoinEx was hacked last week by North Korea’s Lazarus Group hackers, who drained the exchange’s hot wallets for the various cryptocurrencies. While the exchange works with other crypto platforms in a bid to freeze any funds connected to the hackers, it has pledged to fully compensate affected customers.
As Invezz highlighted, the initial heist at CoinEx was put at $29 million. That however grew to $70 million with blockchain security data showing North Korea-affilliated hackers were involved.