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 <p class="is-style-lead">Canadian cryptocurrency exchange CatalX halted operations following a suspected insider job that resulted in a “security breach.”</p>
 <p>CatalX CTS Ltd., the Canadian <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a> <a rel="noopener noreferrer nofollow" title="exchange" href="https://thebittimes.com/tag/exchange.html">exchange</a> operator, said in a press release on Dec. 28 that it had suffered a “<a rel="noopener noreferrer nofollow" title="security" href="https://thebittimes.com/tag/security.html">security</a> breach” resulting in the loss of <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a> assets held on behalf of its clients.</p>
 <p>The breach, suspected to involve an employee, prompted the company to consent to a cease trade order issued by the Alberta Securities Commission, the exchange said.</p>
 <blockquote class="wp-block-quote">
  <p>“Management suspects that this security breach, which may involve an employee, has resulted in the loss of a portion of the crypto assets held by the company on behalf of its clients.”</p>
  <p>CatalX</p>
 </blockquote>
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 <p>As a response to the <a rel="noopener noreferrer nofollow" title="incident" href="https://thebittimes.com/tag/incident.html">incident</a>, CatalX has temporarily halted all <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a> and fiat currency withdrawals from its platform, along with a suspension of all trading activities.</p>
 <p>The company said it is conducting an investigation into the loss and has retained Deloitte LLP to provide “certain forensic and investigative services to the company in connection with its investigation.” The incident’s scale and losses remain undetermined, with updates to follow after Deloitte LLP concludes its investigation, the exchange added.</p>
 <p>Founded in 2017, the Vancouver-headquartered cryptocurrency exchange secured $2 million in funding before its acquisition by LiteLink Technologies in 2020, as reported by CB Insights.</p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/canadian-crypto-exchange-catalx-suspends-services-following-security-incident-tbt75071.html">https://thebittimes.com/canadian-crypto-exchange-catalx-suspends-services-following-security-incident-tbt75071.html</a></p>

Canadian crypto exchange CatalX suspends services following security incident

TheBitTimes

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