XT.com Probes $1.7M Breach; Assures Users That Their Funds Are Secure
In Brief
PeckShield highlighted a possible security breach at the XT.com cryptocurrency exchange, leading to an estimated theft of around $1.7 million in digital assets.
According to the blockchain security expert firm PeckShield, a potential breach was identified by one of their community members on the cryptocurrency exchange, leading to the loss of about $1.7 million in crypto assets. They noted that the hacker converted the stolen assets into 461.58 ETH, which were subsequently moved to an Ethereum wallet. XT.com In reaction to this event, XT.com declared it had paused all withdrawal operations for currencies, citing a need for 'wallet upgrades and ongoing maintenance.' The exchange also stated that an update would follow once they have addressed the recovery process.
A member of our community has revealed that
XT.com is a globally recognized cryptocurrency exchange operating in regions including Singapore and Europe. It provides a variety of services such as spot trading, futures trading, margin trading, and the buying and selling of cryptocurrencies. The exchange promotes interest-free margin trading and boasts low transactional fees. XT.com offers support for over 800 tokens and more than 1,000 trading pairs. As reported on its website, the platform claims to have over 7.8 million registered users, with more than 1 million active users monthly, and an impressive traffic of over 40 million site visitors.
XT.com On the security front, the exchange is fortified with defenses against DDoS attacks, employs a triple-private key security system for enhanced protection, and has taken specific steps to secure user accounts and digital assets held in cold storage. Come December, it plans to introduce a Merkel Tree Asset Proof System to enhance transparency.
🚨 XT Announcement Regarding Unusual Wallet Asset Transfer 🚨
This incident comes as the cryptocurrency industry is still on the path to recovery from the staggering $230 million hack that targeted the
Indian cryptocurrency exchange just a few months ago. WazirX Earlier this month, the M2 centralized cryptocurrency exchange also fell victim to a security breach, resulting in the loss of over $13.7 million in a subsequent cyberattack. On-chain analyst ZachXBT reported that hackers succeeded in siphoning funds in BTC, ETH, and SOL from the exchange’s hot wallets.
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Disclaimer
In line with the Trust Project guidelines Alisa, a passionate journalist at Cryptocurrencylistings, focuses on cryptocurrency, zero-knowledge proofs, investments, and the vast domain of Web3. With a sharp insight into emerging trends and technologies, she provides thorough coverage that informs and engages readers navigating the rapidly changing world of digital finance.
