Centralized crypto exchange Poloniex appears to have suffered a security hack on one of its wallets, tagged as Poloniex 4 on Etherscan.

Suspicious outflows from the apparent hot wallet indicate the incident affected a large sum of its funds, although the exchange has yet to confirm the amount.

Initial analysis of the addresses receiving the outflows suggests that over $63 million in crypto assets were taken, with outflows ongoing, according to security firm PeckShield.

“Our wallet has been disabled for maintenance. We will update this thread once the wallet has been re-enabled,” the exchange stated on its customer support X account.

Poloniex has operated as a centralized exchange since 2014. Tron founder Justin Sun acquired the exchange in 2019.

This is a developing story.