Threat actors stole more than $85 million worth of cryptocurrencies on Thursday as a result of a significant security compromise at the Phemex cryptocurrency exchange.
The cryptocurrency exchange promptly froze deposits and withdrawals after the cyberattack on Thursday and made proof of reserves public for transparency’s sake.
Federico Variola, the CEO of Phemex, claims that cold wallets were unaffected by the event and that only hot wallets were affected. According to the announcement on Phemex’s website, we noticed strange behavior in our hot wallet on January 23, 2025, at 11:30 UTC.
We promptly paused relevant operations triggered our emergency response system read more about Hackers steal $85 million worth of cryptocurrency from Phemex.
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