Hack Drains CoinEx’s Hot Wallet, Resulting in Losses Exceeding $28 Million
Key Takeaways
- CoinEx’s hot wallets were compromised, leading to a significant hack of nearly $53 million in total estimated loss.
- The heist affected various cryptocurrencies, including Ethereum, Tron, and Polygon, based on blockchain security firm PeckShield’s report.
- CoinEx has promised full compensation to impacted users, assuring that most user assets remain secure.
- Ongoing collaborative efforts with other exchanges aim to track and recover stolen funds.
WEEX Crypto News, 19 January 2026
CoinEx, a major player in the global cryptocurrency exchange market, recently suffered a significant security breach. This unfortunate event involved the hacking of its hot wallets, resulting in the loss of over $28 million. The breach was detected when substantial funds began leaving CoinEx’s wallets without authorization, triggering alarms within the crypto community.
The Magnitude of the CoinEx Hack
CoinEx has confirmed that its hot wallets were infiltrated, with an estimated loss reaching up to $53 million. This attack primarily targeted the platform’s operational funds, which were stored in these internet-connected wallets. While hot wallets provide the convenience of quick access and transactions for an exchange, they are also typically more vulnerable to cyber threats compared to their more secure counterpart, cold wallets.
Blockchain security analysts from PeckShield have provided detailed figures on the stolen assets. The breakdown of the theft reveals losses of $19 million in Ethereum, $11.5 million in Tron, and approximately $295,000 in Polygon tokens. The rapid response from CoinEx has been to immediately relocate the remaining $72 million held in potentially at-risk hot wallets to more secure cold storage solutions. This precautionary measure was undertaken to prevent further financial damage.
CoinEx’s Immediate Response and Assurances
In response to the breach, CoinEx has issued a public statement reassuring its users. The exchange has emphasized that the majority of user funds remain secure and untouched. Furthermore, CoinEx has committed to providing full compensation for the losses incurred by its users due to this breach. This promise is intended to restore user confidence and mitigate the reputational damage a hack of this scale can cause.
The exchange is actively collaborating with other major cryptocurrency platforms to track the wallet addresses associated with the stolen assets. This concerted effort aims to impede the movement and liquidation of the compromised funds by the hackers. By doing so, CoinEx seeks not only to recover some of the stolen assets but also to deter future incidents by demonstrating a swift and coordinated response.
The Broader Implications for Crypto Security
This incident underscores a vital lesson in the cryptocurrency ecosystem regarding the balance between accessibility and security. Hot wallets, while crucial for daily operations and ease of transactions, inherently carry higher risks due to their constant internet connectivity. The CoinEx hack is a stark reminder of the susceptibility of digital assets stored in such environments and highlights the critical need for robust security measures.
Cold wallets, which are offline storage solutions, provide a more secure option, reducing exposure to online threats. They should be the primary choice for storing significant cryptocurrency holdings, with hot wallets serving more transient purposes, containing only the funds necessary for immediate operational needs.
Comprehensive Efforts in the Aftermath
As CoinEx navigates the aftermath of this breach, it is focused on enhancing its security protocols to prevent future occurrences. This includes revising existing policies, implementing cutting-edge security technologies, and reinforcing user protection mechanisms. The impact of this event is not only financial but extends to trust and confidence in the brand itself.
CoinEx’s strategy going forward involves a dual approach: securing existing assets and rebuilding trust within its community. By transparently addressing this crisis and taking decisive actions, the exchange aims to reassure its users and stakeholders of its resilience and commitment to safety.
WEEX Alignment
For those interested in a secure and reliable crypto trading experience, WEEX prioritizes robust security measures, ensuring user assets are protected. Experience enhanced trading with WEEX by signing up today [here](https://www.weex.com/register?vipCode=vrmi).
FAQ
What exactly happened to CoinEx’s hot wallets?
CoinEx’s hot wallets were hacked, leading to the loss of a significant amount of cryptocurrency. The attack resulted in approximately $53 million being stolen from the exchange.
How did CoinEx respond to the security breach?
CoinEx responded by promising full compensation to the affected users and relocating remaining assets from hot wallets to more secure cold storage. They are also working with other exchanges to track the stolen funds.
What types of cryptocurrencies were stolen in the hack?
The cyber attack saw the theft of various cryptocurrencies, including $19 million in Ethereum, $11.5 million in Tron, and around $295,000 in Polygon.
How are cold wallets different from hot wallets?
Cold wallets store cryptocurrencies offline, making them less vulnerable to online hacks compared to hot wallets, which are internet-connected and used for frequent transactions.
What measures can users take to protect their digital assets?
Users should consider keeping significant amounts of cryptocurrencies in cold storage, enabling multi-factor authentication where possible, and staying informed on security updates from their exchanges.
You may also like

Why Is Gold, US Stocks, Bitcoin All Falling?

Key Market Intelligence for February 5th, how much did you miss out on?

Wintermute: By 2026, crypto had gradually become the settlement layer of the Internet economy

Tether Q4 2025 Report: USDT Market Cap Nears $190 Billion, Multiple Metrics Reach All-Time Highs

Kyle Samani's about-face, one of the biggest believers in web3, has also left the industry

Bhutan Quietly Sells Over $22M in Bitcoin, Drawing Speculation Over Possible Moves
Key Takeaways Bhutan has transferred over $22 million in Bitcoin from sovereign wallets in the past week. The…

BitMine Endures a $7B Unrealized Loss as Ethereum Dips Below $2,100
Key Takeaways BitMine is facing a significant financial challenge with an unrealized loss of over $7 billion in…

Trump-Linked World Liberty Financial Under Scrutiny Following $500 Million UAE Stake
Key Takeaways A U.S. House investigation is examining a $500 million UAE stake in Trump-related World Liberty Financial.…

Asia Market Open: Bitcoin Tumbles as Asian Equities Reflect Global Tech Retreat
Key Takeaways: Bitcoin’s price plunged by 6% to $72,000, reflecting the spillover effects from the global tech sector’s…

Crypto Firms Propose Concessions to Banks as Stablecoin Disputes Stall Key Crypto Bill
Key Takeaways: Crypto companies are attempting to navigate stablecoin disputes with banks but agreements remain elusive. Industry representatives…

CoolWallet Introduces TRON Energy Rental to Minimize TRX Transaction Costs
Key Takeaways CoolWallet has integrated TRON’s energy rental services, offering users lower transaction fees while maintaining asset security.…

CFTC Officially Withdraws Biden-Era Proposal to Ban Political and Sports Prediction Markets
Key Takeaways: The CFTC has rescinded a 2024 proposal and subsequent 2025 advisory that aimed to prohibit event…

Binance Says Assets Rose Amid Alleged Bank Run Attempt
Key Takeaways: Binance reported an unexpected increase in assets during a community-driven withdrawal campaign, challenging conventional expectations of…

Same Macro Tape, Different Bid – Gold Absorbs Flows as Bitcoin Swings
Key Takeaways: Gold is experiencing significant demand growth, especially via ETFs and central banks, projecting a robust performance…

Crypto Price Prediction Today, February 4 – Focus on XRP, Cardano, and Dogecoin
Key Takeaways Bitcoin is facing significant pressure, affecting the entire cryptocurrency market, including heavyweights like XRP, Cardano, and…

Vitalik Buterin Urges Ethereum Builders to Innovate Beyond Clone Chains
Key Takeaways Vitalik Buterin criticizes the trend of creating copy-paste EVM chains, encouraging developers to focus on truly…

Best Crypto to Buy Now February 4: XRP, Solana, Hyperliquid Picks
Key Takeaways XRP remains one of the top picks for cross-border transactions due to its high speed and…

XRP Price Prediction: Ripple Quietly Unlocks a Billion Tokens – Is a Price Shock Coming in the Next Few Hours?
Key Takeaways Ripple has released one billion XRP tokens into the market, potentially causing a shift in XRP…
Why Is Gold, US Stocks, Bitcoin All Falling?
Key Market Intelligence for February 5th, how much did you miss out on?
Wintermute: By 2026, crypto had gradually become the settlement layer of the Internet economy
Tether Q4 2025 Report: USDT Market Cap Nears $190 Billion, Multiple Metrics Reach All-Time Highs
Kyle Samani's about-face, one of the biggest believers in web3, has also left the industry
Bhutan Quietly Sells Over $22M in Bitcoin, Drawing Speculation Over Possible Moves
Key Takeaways Bhutan has transferred over $22 million in Bitcoin from sovereign wallets in the past week. The…