The little-known XT.com exchange is suspected of being hacked, with a temporary loss of $1.7 million. The exchange has announced a temporary suspension of withdrawals, but has not provided any further updates.
XT.com exchange suspends withdrawals, suspected of being hacked for $1.7 million
Another day, another exchange hacked. This time, it appears that the hackers have targeted XT.com, the 23rd-ranked exchange by trading volume, according to CoinGecko.
Specifically, around 04:00 PM (Vietnam time) on November 28th, PeckShield warned that community members had discovered that the XT.com exchange was undergoing a hack. The Impermanent Loss is estimated to be around $1.7 million.
#PeckShieldAlert Our community member has detected that @XTexchange appears to have been hacked for ~$1.7 million worth of cryptos.
— PeckShieldAlert (@PeckShieldAlert) November 28, 2024
The hacker has swapped the stolen funds for 461.58 $ETH & sit in 0xB43f...8F83 pic.twitter.com/bwINPguXlZ
The attacker has swapped the stolen funds for 461.58 ETH, which are now held in the wallet address 0xB43f...8F83.
Wu Blockchain further reported that the exchange has announced the suspension of withdrawals for all coins on the platform.
XT Exchange, the 23rd-ranked centralized exchange on Coingecko, suddenly announced the suspension of withdrawals for all coins. PeckShield said that XT Exchange was hacked and the hacker has swapped the stolen funds for ETH. https://t.co/0a4wGZmof3
— Wu Blockchain (@WuBlockchain) November 28, 2024
The reason given is "wallet update and maintenance". However, this announcement was only posted on the web platform, and not on social media channels like X.
A curious phenomenon is that the XT token price of the exchange has not been affected by the hack news, but instead has increased by 6% in the past 24 hours.
XT token price in the 7-day frame, screenshot from CoinGecko at 04:45 PM on November 28, 2024
However, it should be noted that the XT token is mainly traded on the XT.com platform itself and does not have trading pairs on other platforms. Therefore, the accuracy of the price data needs to be re-evaluated.
Prior to XT.com, the most recently hacked exchange was M2 Exchange, with a loss of $13.7 million in early November. As for the "crown" of the most hacked exchanges this year, it may soon belong to the WazirX exchange in India, with over $230 million.
As Coin68 reported, the losses from hacks and scams in Q3/2024 decreased by 38% compared to the same period last year. This indicates that the security measures of crypto projects have been significantly improved.
However, the $423.9 million in losses is still an enormous figure, causing significant damage to the projects and users.
Compiled by Coin68
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