Market Musings

British Exchange Halts Withdrawals as Hackers Steal Funds from Hot Wallets

Published on:
December 21, 2020

EXMO says it has contacted the police — and has stressed that funds in cold wallets are unaffected.

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A British crypto exchange has suspended withdrawals after hackers managed to steal almost 5% of its total assets from hot wallets.


EXMO says suspicious activity was first detected in the very early hours of Dec. 1 — with malicious actors transferring BTC, XRP, ZEC, USDT, ETC and ETH off the platform.


The company has stressed that all assets held in cold wallets were unaffected, adding:

“Most importantly, we want to assure you that if any user fund is affected by this incident, it will be covered completely by EXMO.”

EXMO went on to share the addresses that received the stolen funds — and urged fellow crypto exchanges to block the accounts that are connected with these wallets.


The exchange confirmed that the theft has been reported with London’s Metropolitan Police, and the company has also launched an internal security review.


Users have been urged not to deposit any funds into existing EXMO wallets until further notice.


EXMO has itself helped exchanges recover stolen crypto after hack attacks — and back in 2019, it returned hundreds of thousands of EOS taken from Bithumb.


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