The company's CEO has confirmed that Phemex is "looking into reports" of the hot wallet withdrawals

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Crypto Exchange Phemex Investigating Hack Reports as $29M Drained From Hot Wallets

Blockchain security firm Cyvers has flagged nearly $30 million of suspicious outflows from Phemex.

Cointelegraph

Phemex halts withdrawals amid $29M of ‘suspicious’ outflows

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Singapore-based crypto exchange Phemex suffered a significant security breach, losing over $70 million in various cryptocurrencies. The attack exhibits characteristics consistent with previous hacks attributed to North Korean cybercriminal groups. The exchange has suspended withdrawals, is investigating the breach, and has committed to compensating affected users. Phemex, a well-established crypto exchange based in Singapore, recentl…

kalkinemedia.com

What Does Phemex's Latest Security Breach Reveal About Cyber Threats?

The post Phemex Crypto Exchange Faces $70M Loss After Security Breach Linked to North Korean Hackers appeared first on Coinpedia Fintech News Singapore-based cryptocurrency exchange platform, Phemex lost over $70 million on Thursday due to the security failure. The occurrence has elicited...

CryptoPanic

Phemex Crypto Exchange Faces $70M Loss After Security Breach Linked to North Korean Hackers

Blockchain security firm Cyvers said its systems detected multiple suspicious transactions involving Phemex’s hot wallets across several chains. Cyvers estimated that digital assets worth more than $29 million were transferred by suspicious addresses on chains including BNB, ETH, OP, POL, BASE, and ARB. In its Jan. 23 alert, the security firm noted that the suspicious […]

Bitcoin.com

Phemex Hacked: Over $29 Million Stolen Across Multiple Blockchains – News Bytes Bitcoin News

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Phemex crypto exchange alerted to over $29M of ‘suspicious’ outflows

Hackers stole $70M from Phemex hot wallets, impacting Ethereum, Solana, XRP, and Bitcoin.
Phemex suspended withdrawals after detecting $29M in suspicious blockchain outflows.
Cold wallets remain secure as Phemex plans USDT and USDC withdrawal restoration.
Singapore-based crypto exchange Phemex launched an investigation into an exploit that stole roughly $70 million from its hot wallets. On January 23, blockchain analytics company PeckShield veri…

coinstats.app

CoinStats - Crypto Exchange Phemex Faces $70 Million Expl...

Crypto exchange Phemex appears to have been the victim of a multi-million exploit on Thursday, according to online reports. Millions worth of USDT, USDC, Ethereum (ETH), and other crypto assets were stolen from the exchange’s hot wallets, resulting in a temporary half of withdrawals. Phemex Suffers First Crypto Exchange Hack Of 2025 On Thursday morning, the first crypto exchange hack of the year hit the industry. Multiple reports revealed suspic…

NewsBTC

Crypto Exchange Phemex Suspends Withdrawals After $30M Hack

Singapore-based crypto exchange Phemex has temporarily suspended withdrawals following a reported $37 million exploit targeting one of its hot wallets. On Jan. 23, the exchange announced this decision to allow for an emergency inspection and to enhance its wallet security measures. Phemex assured users that withdrawals would resume soon and apologized for the inconvenience. Cyvers,…

Phemex reassures users with a compensation plan after $37 million hot wallet breach

Singapore-based crypto exchange Phemex has temporarily suspended withdrawals following a reported $37 million exploit targeting one of its hot wallets. On Jan. 23, the exchange announced this decision to allow for an emergency inspection and to enhance its wallet security measures. Phemex assured users that withdrawals would resume soon and apologized for the inconvenience. Cyvers, a blockchain security firm, first detected the breach. The firm …

Crypto Exchange Phemex Investigating Hack Reports as $29M Drained From Hot Wallets

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