Cryptocurrency exchange CoinEx is preparing to reopen deposit and withdrawal services more than a week after experiencing a $70 million hack due to compromised hot wallet private keys.
CoinEx previously communicated its intention to develop and implement a new wallet system to support the 211 blockchains and 737 tokens it offered prior to the hacking incident.
According to the latest statement from the exchange, deposit and withdrawal services for BTC, ETH, USDT, USDC, and other tokens will resume on September 21.
CoinEx plans to update deposit addresses for the listed tokens and generate new deposit addresses for users. Customers have been advised not to deposit funds into old addresses on the platform, as this could result in the permanent loss of assets. The exchange also expects a potentially significant backlog of withdrawals when operations resume:
“We ensure the new wallet system is stable, and we will gradually resume deposit and withdrawal services for more assets.”
CoinEx to Resume Deposit and Withdrawal Services After Security Incident
CoinEx has emphasized its implementation of a 100% asset reserve policy to protect users from potential security threats. Previous updates following the hacking incident reassured users that their assets were not impacted and that CoinEx’s User Asset Security Foundation would cover any financial losses.
Cointelegraph reached out to CoinEx to inquire about potential refunds for users if assets were affected or are impacted in the future by the incident.