Hackers Have Stolen $13M From This Crypto Exchange

According to insights from a blockchain security firm, the hackers have stolen around $13 million from crypto exchange CoinW.

While there were massive security incidents last month, bad actors continued to drain user funds in October.

Cyvers Detect Suspicious Transactions as CoinW Exchange Loses $13M

The blockchain security firm Cyvers told BeInCrypto:

“Our cutting-edge AI system has flagged multiple suspicious transactions totaling $13M on the @CoinWOfficial exchange on BTC, ETH, and BNB chains.

Whether the threat originates from external forces, suggesting a system breach or internal authorized movement remains uncertain.”

Read more: How to Buy Ethereum (ETH) and Everything You Need to Know

Furthermore, Cyvers shared the suspicious addresses for the Bitcoin (BTC), Ethereum (ETH), and BNB chains. As of writing, the Bitcoin address has a balance of 81 BTC, worth around $2.3 million.

At the same time, the Ethereum address has a balance of 200 ETH, which costs around $10.5 million.

At last, the suspicious BNB address has a balance of around $500,000.

So far, the CoinW exchange has not commented on the hack. According to CoinMarketCap, the CoinW exchange has reserves worth $211.2 million. The exchange recorded a spot trading volume of over $680 million in the past 24 hours

The community members have suspected the involvement of North Korean hackers in the CoinW exchange hack. North Korea’s state-sponsored hackers – Lazarus Group was reportedly responsible for the $55 million CoinEx exchange’s hack.

According to the on-chain data, Lazarus Group is the 66th largest Tron (TRX) holder, with over $11.63 million holdings.

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For BeInCrypto’s latest Bitcoin (BTC) analysis, click here.

For BeInCrypto’s latest Bitcoin (BTC) analysis, click here.