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October 5, 2022
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The large cryptocurrency exchange Exmo lost 5 percent. their assets as a result of a hacker attack. Currently, the platform has suspended withdrawals.

Exmo has been attacked by hackers

Exmo, a cryptocurrency exchange based in the UK, suffered a serious breach of security systems, which caused the platform to freeze all withdrawals.

According to a December 21 release, Exmo experts detected suspicious payout activity on Monday. The idea was that large amounts of the main coins that are available on the platform, such as Bitcoin (BTC), were sent outside the platform’s hot wallets.

Maria Stankevich, head of business development at Exmo, told Cointelegraph that the incident “Is nothing very serious”, because the affected wallets account for only 5% of all assets on the stock exchange. As added in the release, “All assets that are on cold wallets are safe.”

As announced, other affected cryptocurrencies are Ether (ETH), XRP, Tether (USDT), Zcash (ZEC), and Ethereum Classic (ETC). The stock exchange also mentioned that it discovered crypto wallets that were possibly involved in the hack, while asking major exchanges to monitor them and check that stolen funds did not end up on their trading platforms.

Stankevich noted that the stock market has yet to calculate the full amount of losses it has suffered, saying Exmo is now focused on tracking cash flow.

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Exmo has opened an investigation into its security systems and reported the matter to the London Police. The company also asked its users not to deposit any funds into Exmo wallets until the issue was resolved. “We want to assure you that if any user funds are affected by this incident, they will be fully refunded by Exmo.” – added the company.

In December, Exmo was “temporarily registered” by the UK’s Financial Services Authority, allowing it to continue trading cryptocurrencies for a longer period, which is until July 9, 2021. By then, the country’s digital currency market is to be regulated.

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