CoinEx to reopen some withdrawals and deposits following $70M hack (2024)

CoinEx has begun to resume withdrawals and deposits following a $70 million hack earlier this month.

The company said that it expects its wallet system to be reconstructed and deployed on Thursday, Sept. 21.

It added that it is updating the deposit addresses for some assets, including bitcoin (BTC), ethereum (ETH), litecoin (LTC), bitcoin cash (BCH), dogecoin (DOGE), shiba inu (SHIB), and Binance coin (BNB).

The blog post warned users that they should only use the new deposit addresses because “the old addresses will NO LONGER work and assets sent to them will be permanently lost.”

CoinEx noted that it expects a “large number of withdrawals” and that it expects withdrawal times to take longer than usual as it works to ensure that the new wallet system is stable enough to resume withdrawals and deposits for more assets.

“We’ve finalized our strategy to resume withdrawals and are set to progressively resume these services within 7 working days. Ensuring 100% asset security remains our top priority before reactivating withdrawal functionalities,” CoinEx said in a tweet on X, formerly Twitter, on Monday.

A suspected hack of the asset management platform happened on Sept. 12 when data showed large hot wallet outflows.

CoinEx agreed in June to pay $1.7 million to the New York Attorney General and cease operations in New York. The NYAG sued the Hong Kong-based crypto trading platform in February of this year, alleging that it violated the Martin Act.

Essentially, the Martin Act ensures that only registered dealers, brokers and salesmen sell or offer securities.

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CoinEx to reopen some withdrawals and deposits following $70M hack (2024)

FAQs

Why can't i withdraw from CoinEx? ›

Please check if there are any deposits need additional confirmations to meet CoinEx's requirements for arrival and withdrawal. Once the deposits have enough confirmations, the withdrawable amount can match your actual balance.

How do I get my money from CoinEx? ›

Support Team
  1. Visit CoinEx official website (https://www.coinex.com), log in to your account, and select [Withdraw] under [Assets] in the top-right corner.
  2. Fill in withdrawal details (take USDT-TRC20 as an example) ...
  3. Select an appropriate Two-Factor Authentication (2FA) method (e.g. SMS / TOTP / Passkey) for verification.
Aug 20, 2024

Is there a deposit limit on CoinEx? ›

No maximum limit is specified. CoinEx requires crypto deposits to receive enough confirmations on its blockchain before the funds can be credited to your account.

How do I deposit dollars into CoinEx? ›

CoinEx Deposit & Withdrawal Guide
  1. Visit CoinEx official website (http://www.coinex.com), log in to your account, and click [Assets] > [Deposit] in the upper right corner.
  2. Take USDT-TRC20 as an example: (1) Select Token [USDT]; ...
  3. After the deposit is credited, you may check the assets in the [Spot account].
Jun 10, 2024

Can US citizens use CoinEx? ›

CoinEx is a no KYC exchange that serves users globally including in Europe, North America, and Australasia. CoinEx offers a huge range of investments and products, with more than 600 cryptocurrencies available for spot trading, margin trading, and futures trading.

How do I contact CoinEx customer service? ›

Contact Us

If you have any questions relating to our privacy policy and your rights and obligations arising from these policy terms, or if you intend to exercise your rights stated in this privacy policy, please contact [email protected].

What is the daily withdrawal limit for CoinEx? ›

How to Complete ID Verification
FunctionAccount Without ID VerificationAccount With ID Verification
Withdrawal24H Withdrawal Quota: 10,000 USD 30D Withdrawal Quota: 50,000 USD24H Withdrawal Quota: 1,000,000 USD
Spot & Margin TradingAvailableAvailable
Futures AccountAvailableAvailable
Financial AccountAvailableAvailable
1 more row
Jun 25, 2024

How long do CoinEx withdrawals take? ›

Normally, the auditing will take 5-15 minutes and 15-30 minutes for large withdrawals due to slight blockchain delay. Your withdrawal can't be sent during wallet maintenance, but it will be sent automatically after the maintenance is completed. You may set a reminder on the withdrawal page.

Is CoinEx a legit exchange? ›

Yes, CoinEx is a legitimate cryptocurrency exchange platform. It aims to provide a highly secure, stable, and efficient digital coin exchange for users worldwide.

Is it safe to keep crypto on CoinEx? ›

For security, we never relax. Along with our strategic partners, we aim to build the most reliable and secure crypto trading environment and contribute to evolving Web3. CoinEx's security team utilizes advanced technology and principles to guarantee platform security and trustworthiness, fostering user confidence.

Can I withdraw fiat from CoinEx? ›

Navigate to the “Actions” menu, tap “Sell,” select the crypto you want to withdraw and the fiat currency you wish to receive, and enter the amount before confirming.

What is a stop limit order on CoinEx? ›

Stop-limit orders: You can preset the stop price, limit price, and amount. When the market price reaches the stop price, a limit order will be posted at the specified price and amount. Stop-market orders: You can preset the stop price and amount.

How to fund a CoinEx account? ›

Support Team

Visit CoinEx official website (https://www.coinex.com), log in to your account, and select [Deposit] under [Assets] in the top-right corner. (1) Select Coin/Token and your desired network on the [Deposit] page to get your deposit address. (2) Submit a withdrawal on the sending platform.

How to transfer USDT from CoinEx to bank account? ›

Visit CoinEx official website (https://www.coinex.com), log in to your account, and click [Financial] in the drop-down menu of [Assets] in the upper right corner. 2. On the Financial page, locate your desired crypto and click [Transfer] on the right.

Can I buy Bitcoin with CoinEx? ›

CoinEx has now supported more than 60 fiat currencies for buying mainstream cryptocurrencies such as BTC, ETH, USDT, etc.

Why is Blockchain not letting me withdraw? ›

If you recently made a deposit via ACH, your funds may be subject to a holding period of up to 7 days. During this time, you'll still be able to use your funds to trade as normal. However, during the hold period, you will not be able to withdraw the equivalent value of these funds in both fiat and crypto.

Why can't i withdraw money from my crypto account? ›

If you've recently purchased crypto via card, ACH or Open Banking, your crypto may be subject to a holding period. During a holding period, you cannot withdraw from your cash (GBP, EUR, or USD) account, send funds to your DeFi Wallet, or send to an external wallet.

Can I withdraw from CoinEx without verification? ›

ID Verification can give you a higher 24-hour withdrawal quota, but you can still use other CoinEx functions without ID verification.

Is CoinEx legit? ›

Yes, CoinEx is a legitimate cryptocurrency exchange platform. It aims to provide a highly secure, stable, and efficient digital coin exchange for users worldwide.

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