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 <h2 id="coinex-losses-yet-to-be-confirmed">CoinEx Losses Yet To Be Confirmed</h2> 
 <p><span style="font-weight: 400">Moreover, while the exact figure of the financial damage remains under calculation, initial reports estimate it to be $28 million. CoinEx has emphatically stated that all users’ assets are “</span><span style="font-weight: 400">secure and untouched</span><span style="font-weight: 400">.” Affected parties, it pledges, will receive total compensation for any losses incurred due to this security breach.</span></p>  
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 <h2 id="legal-and-expansion-challenges-amid-security-concerns">Legal and Expansion Challenges Amid Security Concerns</h2> 
 <p><span style="font-weight: 400">The current security mishap is one of many challenges CoinEx is grappling with. The exchange also faces legal proceedings from a New York state attorney over alleged business </span><span style="font-weight: 400">registration violations</span><span style="font-weight: 400">. Despite these hurdles, CoinEx has remained within its strategic expansion plans. Recently, the platform announced a new partnership with a Web3 conference to bolster its cryptocurrency trading ecosystem.</span></p> 
 <p><span style="font-weight: 400">The incident involved unauthorized transactions in Ethereum (ETH), TRON (TRX), and Polygon (MATIC). This step prompted CoinEx to freeze both deposits and withdrawals as a remedial measure temporarily. Besides, assets from the compromised hot wallets are reportedly being </span><span style="font-weight: 400">transferred</span><span style="font-weight: 400"> to a more secure cold wallet, which presently holds a significant $89 million. However, no official statement concerning the breach’s full extent has been released.</span></p>  
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 <p><span style="font-weight: 400">Additionally, industry experts advocate for enhanced security measures to prevent similar occurrences. CoinEx’s handling of this situation will significantly influence its long-term credibility and consumer trust.</span></p>  
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 <p><span style="font-weight: 400">Therefore, as CoinEx endeavors to fortify its security infrastructure, it finds itself at a critical juncture. Balancing ambitious growth plans while maintaining stringent security protocols is more essential than ever. The exchange faces the daunting challenge of bolstering its security measures and retaining the trust of its expansive user base.</span></p> 
 <p><span style="font-weight: 400">However, CoinEx is taking concerted steps to <a rel="noopener noreferrer nofollow" title="assure" href="https://thebittimes.com/tag/assure.html">assure</a> its clientele that their funds are safe. Moreover, the immediate action and complete compensation plans are a testament to this commitment. </span></p> 
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/coinex-reassures-security-amid-27-8m-attack-tbt62502.html">https://thebittimes.com/coinex-reassures-security-amid-27-8m-attack-tbt62502.html</a></p>

CoinEx Reassures Security Amid $27.8M Attack

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TheBitTimes

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