In a significant security breach, CoinEx, a popular cryptocurrency exchange, reportedly lost nearly $28 million in assets from its Ethereum (ETH), TRON (TRX), and Polygon (MATIC) hot wallets on Tuesday. The suspected hack has led to an ongoing investigation into the incident, with the exchange's ETH reserves experiencing a rapid depletion.
According to Colin Wu, a well-known cryptocurrency journalist, CoinEx reportedly lost 4,946 ETH and 354,762 TRX as part of the ongoing drain from the exchange’s wallets. The total value of the funds lost surpasses $27.8 million. CoinEx has moved the affected hot wallet assets to a cold wallet address, which currently holds assets worth $97.83 million.
Julio Moreno, Head of Research at CryptoQuant, highlighted peculiar behavior surrounding CoinEx’s Ethereum reserves. The exchange has experienced a staggering depletion of its ETH holdings, with almost 5,000 ETH mysteriously vanishing within a single hour and a total loss of approximately 40,000 ETH since May. As a result, CoinEx’s ETH reserves now stand at virtually zero.
Meanwhile, on the same day, an anonymous cryptocurrency investor fell victim to a phishing scam that resulted in the loss of $24 million worth of Ethereum (ETH). On September 6, 2023, the investor lost 9,579 stETH and 4,851 rETH in two transactions. The attacker swiftly converted the stolen assets into 13,785 ETH and a substantial 1.64 million DAI.
In contrast to these security breaches and losses in the crypto market, VC Spectra's (SPCT) Stage 3 presale witnessed a significant surge. The presale saw a 212.5% jump over the past week, attracting seasoned investors and newcomers alike to the crypto space.
VC Spectra (SPCT) is currently exchanging hands at a 212.5% increase from its initial price. The firm offers investors exclusive access to pre-ICOs and diversified portfolios, employing algorithmic and systematic trading strategies to execute profitable trades. Furthermore, VC Spectra (SPCT) rewards investors with quarterly dividends and buybacks tied to investment returns.
These events underscore the volatile nature of the crypto market, highlighting both the potential for high returns and the risk of significant losses due to security breaches.
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