CoinEx Resumes Cryptocurrency Trading Two Weeks after Hacking Attack

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CoinEx Resumes Cryptocurrency Trading Two Weeks after the Hacking Attack

ForexMinute.com – CoinEx was the latest victim in the series of day-to-day hacking attempts/attacks on cryptocurrency exchanges. Two weeks before, hackers drained CoinEx’s accounts by stealing all coins, which further sent the exchange in a temporary halt state.

Few days later after the attack, CoinEx’s CEO Erundook released a statement, a kind that was once expected from Mt. Gox CEO Mark Karpeles at the time of the exchange’s collapse, promising customers that they will compensate the losses from their own pockets. Although back then, annoyed customers didn’t believe the words of the CoinEx’s CEO. But they regain their trust in the exchange when it once again became live, and brought back 50% of the stolen coins alongside, living up to the words of its CEO Erundook.

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The man confirmed the CoinEx’s comeback on March 31st through his social media representations. “CoinEx is online,” stated he. “Only BTC & LTC withdrawals will work yet; rest will come next week. Please note that we don’t have enough funds for *all of you* to withdraw *all of your funds* so please only do so if you really need it. We have security audit pending with nccgroup.com, will post more details as it goes on. Thank for your patience.”

Erundook also ensured customers to recover the rest of the virtual coins by raising money through sacrificing a portion of its transaction fees. The move, although very noble, is still riskier for an exchange who have been hacked once before already. As for now, the CoinEx has reopened only Bitcoin and Litecoin trading services because of their marginally high values that can generate more transaction fees for them.

The quick action by CoinEx also comes at a time when its audit with ncggorup.com is already pending.

To contact the reporter of the story: Yashu Gola at yashu@forexminute.com