Established in 2021, the cryptocurrency exchange Xeggex (referred to as the "Egg Exchange" by the community), believed to be created by Chinese, is suspected to have experienced a financial management crisis today (3rd)! The trading platform is currently inaccessible, all tokens have been delisted, and related information cannot be queried.
A large number of users have reflected on social media that their assets have been zeroed out and their transaction records have been deleted, worrying that the exchange has "run away with the money".
The image below shows that the Xeggex exchange website currently cannot display any trading pairs and buying and selling prices, only the template frame of the trading market, and market conditions and transaction information cannot be queried. This situation may usually mean that the exchange's liquidity has been exhausted, or the server has encountered technical problems, or the platform's funds may be abnormal or have "run away with the money".
Crypto Expert: Altcoin Crash May Trigger Bank Run
Market analysis shows that the recent sharp drop in Altcoin prices has led investors to withdraw their funds, which may trigger an exchange bank run crisis. BlockTempo experts said:
This wave of Altcoin crash is too tragic, many people are rushing to withdraw their funds, which may lead to the exchange's capital chain being broken, causing this situation. If Xeggex cannot resume normal operations, the possibility of "running away with the money" is extremely high.
Further Reading: Altcoin Crash》Ethereum Erases Half-Year Gains, XRP Plunges 40% in a Day, SOL Drops Below $180, 710,000 People Liquidated Over $2 Billion
Platform Token XPE Plunges Over 45% in a Single Day
The platform token Xpense (XPE) within the exchange also experienced a dramatic decline earlier today, falling from around $0.18 to below $0.10, a maximum drop of over 45%.
According to CoinMarketCap data, XPE remained relatively stable in the early hours of the day, but then began to gradually decline, and after noon, it experienced a significant plunge, dropping to as low as around $0.075, with the market panic sentiment spreading.
Unable to Log In, Assets Disappeared, Transaction Records Abnormal... Official Has Not Responded
Multiple victims have reflected that the Xeggex exchange is experiencing serious abnormalities and they are unable to log in, and some users even pointed out that their account balances have completely disappeared, and their transaction records have been deleted, making people suspect that the exchange has been hacked or the assets have already been transferred.
To make matters worse, the Xeggex official has not yet made a formal response to this matter, and it is unclear whether the problem is due to a technical failure, a security vulnerability, or if the exchange's funds are really in trouble.
Exchange Data Abnormal, Reserve Proof Suspected to Be Transferred
Additionally, according to CoinMarketCap data, the reserve proof data of the Xeggex exchange cannot be displayed normally, which may be because the reserve proof assets have been transferred, or the exchange has deliberately cut off the API interface, making it impossible to read the remaining asset data... It seems that the situation is not optimistic.
