Crypto exchange – CoinEx – has reportedly fallen victim to a hack, with its Ethereum [ETH], TRON, and Polygon [MATIC] wallets affected. According to Chinese reporter – Colin Wu – the exchange has lost over $27 million to the hack. Even PeckShield – a blockchain analytics company – raised the alarms on the “suspicious outflow of large funds” from the exchange’s hot wallet.

Additionally, since the incident surfaced, CoinEx has started to move its remaining crypto assets from its hot wallet to its cold wallet. As per Wu, the cold wallet holds $89 million in assets, with ETH and USDT accounting for $51.7 million and $18.23 million respectively.

As of press time, CoinEx has not released any official statement regarding a hack or speculations on the reason for the massive outflows. However, it has announced to its customers that it will start a wallet maintenance. This is scheduled to take place from 23:18:30 (UTC+8) on 12th September, which effectively suspends deposit and withdrawal services.

The story is still developing…