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<div class="sg-post-des">
  CoinEx has rebuilt its wallet system following a $70 million hack and is set to resume deposit and withdrawals for select cryptocurrencies. 
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<div class="cointelegraph"> 
 <p>Cryptocurrency exchange CoinEx is set to <a rel="noopener noreferrer nofollow" title="resume" href="https://thebittimes.com/tag/resume.html">resume</a> deposit and withdrawals for its users more than a week after it suffered&nbsp;a $70 million hack due to compromised hot <a rel="noopener noreferrer nofollow" title="wallet" href="https://thebittimes.com/tag/wallet.html">wallet</a> private keys.</p> 
 <p>In previous correspondence with Cointelegraph, the exchange outlined its priority to build and deploy a new <a rel="noopener noreferrer nofollow" title="wallet" href="https://thebittimes.com/tag/wallet.html">wallet</a> <a rel="noopener noreferrer nofollow" title="system" href="https://thebittimes.com/tag/system.html">system</a> to facilitate activities for the 211 blockchains and 737 tokens that it served before the hacking incident.</p> 
 <p>The latest statement from the exchange announces the resumption of deposit and withdrawal services of BTC, ETH, USDT, USDC and other tokens from Sept. 21.</p> 
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  <img src="https://cdn.thebittimes.com/images/2023/09/20/c454ff13c17b90207ece267baf02125c.webp"> 
  <figcaption style="text-align: center;">
    CoinEx will resume deposits and withdrawals with 11 cryptocurrencies. 
  </figcaption> 
 </figure> 
 <p>CoinEx will update deposit addresses for the listed tokens and will generate new deposit addresses for its users. </p> 
 <p>CoinEx customers were advised not to deposit into old addresses on the platform, as this would result in assets being permanently lost. The exchange also warned of a potentially large number of pending withdrawals at the resumption of its operations:</p> 
 <blockquote>
   “We ensure the new wallet system is stable, and we will gradually resume deposit and withdrawal services for more assets.” 
 </blockquote> 
 <p>The exchange maintains that it has implemented a 100% asset reserve policy to safeguard users against potential security threats. Previous updates following the hacking incident also stated that users assets were not affected and that CoinEx's&nbsp;User Asset Security Foundation would cover any financial losses.</p> 
 <p>Cointelegraph has reached out to CoinEx to ascertain if it will refund users in the event that assets were affected or are affected in the future by the event.</p> 
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/coinex-to-resume-service-with-new-wallet-system-following-70m-hack-tbt63383.html">https://thebittimes.com/coinex-to-resume-service-with-new-wallet-system-following-70m-hack-tbt63383.html</a></p>

CoinEX to resume service with new wallet system following $70M hack

TheBitTimes

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