Crypto Exchange XT Suffers $1.7M Exploit
11/28/2024 18:28
The exchange said users' funds are safe.
Crypto Exchange XT Is Hacked for $1.7M
The exchange said users' funds are safe.
Nov 28, 2024, 11:00 a.m.
Cryptocurrency exchange XT.com has suffered a hack worth $1.7 million, according to blockchain security firm PeckShield.
The stolen funds were converted to ether (ETH) and now sit in a newly created Ethereum wallet.
"Today, XT detected an abnormal transfer from our platform wallet. Rest assured, this will not affect our users," XT.com wrote on X. "We always maintain reserves 1.5x greater than user assets to ensure maximum security."
CoinGecko data shows that the Seychelles-based exchange has $47.7 million in reserves and reported trading volume of $3.3 billion in the past 24 hours.
The hack marks the latest in a string of attacks targeting exchanges; BingX and Indodax lost $43 million and $22 million, respectively, in September.
Oliver Knight
Oliver Knight joined CoinDesk as a news reporter in April 2022. Before joining CoinDesk, Knight was the Chief Reporter at Coin Rivet for three years. Having graduated with a journalism degree from Birmingham City University, Knight went on to work at various sports publications before diving into the world of Bitcoin in 2014. He does not have any crypto holdings.
