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Crypto Exchange EXMO Says Hackers Have Stolen 5% of Total Assets

The incident saw losses of bitcoin, XRP, zcash, tether, ether and ethereum classic, according to early analysis.

By Tanzeel Akhtar
AccessTimeIconDec 21, 2020 at 2:14 p.m. UTC
Updated Feb 10, 2023 at 2:48 p.m. UTC
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U.K.-based cryptocurrency exchange EXMO disclosed Monday its hot wallets have been compromised and all withdrawal activity has been suspended.

  • In a blog post on Monday, EXMO said it had detected "large withdrawals" on Dec. 21 at 02;27 UTC, and reacted "immediately and re-deployed hot wallets."
  • Five percent of the total assets held by the exchange are said to have been stolen. Cold, or offline, wallets were unaffected, it said.
  • EXMO said it is investigating the incident that saw losses of bitcoin, XRP, zcash, tether, ether and ethereum classic, according to early analysis
  • The exchange asked users to not deposit funds in existing EXMO wallets for the time being.
  • EXMO stressed that those users affected by the incident will be covered by the exchange.
  • London police have been informed of the breach, while EXMO will "conduct a thorough security review that will include all parts of our systems and data," per the post.

See also: Over $280M Drained in KuCoin Crypto Exchange Hack

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CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

Tanzeel Akhtar
Tanzeel Akhtar

Tanzeel Akhtar is a reporter based in London,UK.

Follow @Tanzeel_Akhtar on Twitter

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