Hong Kong-based cryptocurrency exchange CoinEx has revealed that compromised private keys allowed hackers to steal over $70 million of tokens as the team looks to open lines of communication to claw back funds.
CoinEx representatives unpacked the finer details of their continuing investigation to Cointelegraph as the team works to build and deploy a new wallet architecture to restore impacted users and functionality of the platform.
Despite an estimated $70 million worth of cryptocurrency being stolen from the platform, the exchange claims this amount represents a small percentage of its total assets under management. CoinEx stated that affected users will be compensated entirely for any lost funds.
2/ We’ve finalized our strategy to resume withdrawals and are set to progressively resume these services within 7 working days. Ensuring 100% asset security remains our top priority before reactivating withdrawal functionalities.
— CoinEx Global (@coinexcom) September 18, 2023
CoinEx said that it was still investigating the identity of those responsible for the security breach, which a…