CoinEx will restart some transfers and payments after $70 million was stolen

Withdrawals and deposits can be made using a wide variety of assets, including Bitcoin, Ethereum, Dogecoin, and Shiba Inu.

The corporation has said that the re-deployment of the wallet system is scheduled for Thursday, September 21.

Furthermore, the company said that it is revising the deposit addresses for some assets, including bitcoin (BTC), ethereum (ETH), litecoin (LTC), bitcoin cash (BCH), dogecoin (DOGE), shiba inu (SHIB), and Binance coin (BNB).

The blog post told users that they ought to utilize only the new transfer addresses because “the old addresses will no longer work, and any assets sent to them will be lost for good.”

To ensure the new wallet system is solid enough to begin withdrawals and deposits for additional assets, CoinEx has warned that it anticipates a “large number of withdrawals” and that withdrawal times would take longer than normal.

“We’ve completed our plan to start processing withdrawals again, and we’ll be back to normal within 7 business days. On Monday, CoinEx sent a tweet on X (formerly Twitter) saying that the safety of users’ funds was still their first priority before the company would enable withdrawals.”

Large hot wallet withdrawals were recorded in the data on September 12th, suggesting a possible compromise of the asset management platform.

The New York Attorney General and CoinEx settled in June, with CoinEx agreeing to pay $1.7 million and shut down its activities in the state. In February of this year, the NYAG filed a lawsuit against a Hong Kong-based cryptocurrency trading platform, claiming that it had broken the Martin Act. The Martin Act basically makes it such that only authorized individuals may sell or offer securities.

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