After the CoinEx $70m hack, the cryptocurrency exchange has emerged stronger. CoinEx, which previously fell victim to compromised hot wallet private keys, has not only rebuilt its wallet system but is now poised to resume deposit and withdrawal services for select cryptocurrencies.

Rebuilding Trust: CoinEx’s New Wallet System

CoinEx outlined its unwavering commitment to its users. Their top priority? Building and deploying a brand-new wallet system that could seamlessly cater to the 211 blockchains and 737 tokens that CoinEx served before the unfortunate hacking incident.

Notably, the latest announcement from CoinEx brings a ray of hope to its users. Further, deposit and withdrawal services for BTC, ETH, USDT, USDC, and other tokens are set to resume on September 21. But that’s not all; here are the essential details:

New Deposit Addresses: CoinEx will also be updating deposit addresses for the listed tokens and generating new ones for users. It’s crucial not to deposit into old addresses on the platform to avoid permanent loss of assets.

Prepare for Pending Withdrawals: The exchange has further issued a warning regarding a potentially substantial number of pending withdrawals as it gears up to resume full operations. They emphasize the importance of ensuring the stability of the new wallet system.

CoinEx to resume new wallet system and services.

Security Remains Paramount

In the face of adversity, CoinEx remains resolute about protecting its users. The exchange has implemented a robust 100% asset reserve policy, a fortress against potential security threats. Importantly, users can take solace in the fact that their assets were not affected by the hack.

In addition, CoinEx’s User Asset Security Foundation stands ready to cover any financial losses, further cementing their commitment to safeguarding users’ interests.

Read More:

Wormhole Enhances Cross-Chain USDC Transfer with CCTP Integration

Hut 8 and USBTC Merge to Create Bitcoin Mining Powerhouse, Eyeing Nasdaq and TSX Listings