BTC

$95072.409

0.43%

ETH

$3400.256

1.56%

XRP

$2.181

0.56%

BNB

$711.803

1.17%

News

XT Exchange Hack Forces Withdrawal Suspension Amid Security Breach

November 28, 2024 - Around 2 mins mins to read

Key Points:

  • XT Exchange Hack caused the suspension of all coin withdrawals after stolen funds were swapped for ETH.
  • XT Exchange ranked 23rd on Coingecko, faces a security breach as hackers exchange stolen funds for ETH.
XT Exchange Hack forces withdrawal suspension as the 23rd-ranked exchange on Coingecko faces a security breach. Hacker swapped stolen funds for ETH, reports PeckShield.
XT Exchange Hack Forces Withdrawal Suspension Amid Security Breach

XT Exchange Hack Prompts Withdrawal Suspension

After a suspected breach, Coingecko’s 23rd-ranked centralized exchange, XT Exchange, has suspended all coin withdrawals. PeckShield, a blockchain security firm, revealed that the hacker used decentralized exchanges to trade stolen cash for ETH, complicating monitoring. Users are worried about their valuables and the exchange’s trustworthiness after the breach.

An official statement from the exchange acknowledged the occurrence and assured users of a comprehensive investigation. Customers are upset and seeking answers due to the lack of rapid transparency. Many consumers want immediate action and compensation, while the crypto community awaits information, according to XT.

Read more: XT.com Review: Reputable Cryptocurrency Exchange You Should Try

Strategic Fundraising Powers MARA Bitcoin Purchased

Given its high position among bitcoin trading platforms, the XT Exchange breach has garnered notice. According to PeckShield, the hacker used decentralized means to transport the stolen assets, concealing the trail and complicating recovery. This event highlights the security risks that top-tier exchanges face from sophisticated attacks.

As of present, XT Exchange has not set a deadline for correcting the issue, leaving users apprehensive. Community members have questioned the exchange’s crisis readiness due to the lack of fast communication and resolution. The incident emphasizes the necessity for strong security in the fast-changing Bitcoin ecosystem.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

hack

withdrawal

XT

XT Exchange

Author

William

In the fast-paced world of day trading, I've honed my skills for over six years using technical analysis tools and crafting short-term strategies. My expertise isn't from textbooks but from the trenches of online trading communities. I excel at reading chart patterns, applying technical analysis, and mastering risk management. "The market is about probabilities," I declare. As Editor at Coincu, I empower readers with the insights and strategies to conquer the dynamic world of day trading.