Crypto exchange XT.com has suspended operations amid reports of a $1.7M hack
XT.com, a cryptocurrency exchange with a daily turnover of $3.4 billion, has suspended withdrawals after a $1.7 million theft.
The exchange suspended withdrawals on November 28, citing “wallet updates and maintenance.”
XT.com Unblock Notice November 28. Source: XT.com
The announcement came an hour before blockchain security firm PeckShield XT.com reported that it “appears to have been hacked” for an estimated $1.7 million worth of cryptocurrency.
Subsequently, XT.com acknowledged the “unusual platform wallet asset transfer.”
“Rest assured, this will not affect our users, always keeping a backup of 1.5x user assets to ensure maximum security,” he said.
A hacker exchanges stolen funds.
According to PeckShield, the suspected XT.com hacker previously exchanged the stolen funds for 461.58 Ether (ETH). The exchanged assets are stored in an Ethereum address identified by PeckShield.
XT.com announcement about PeckShield's alleged $1.7 million hack. Source: PeckShieldAlert
XT.com It is a centralized cryptocurrency exchange founded in 2018 and registered in Seychelles. The exchange facilitates the trading of more than 1,000 digital currencies, with a daily trading volume of $3.4 billion at the time of writing.
Cointelegraph reached out to XT.com for comment on the matter but did not receive a response at the time of publication.
This is a developing story, and more information will be added as it becomes available.
Magazine: Bitcoin's Dominance Will Fall by 2025: Benjamin Cowen, X Flame Hall
