EXMO noticed a security breach at 2:27 PM UTC on Dec. 21. Hackers made “large withdrawals,” stealing BTC, XRP, XEX, ESDT, ETC, and ETH from the hot wallets and transferring the funds off-site.

Five percent of the total assets were stolen, while cold wallet funds remain secure.

Attention!
We detected suspicious withdrawal activity. All withdrawals are temporarily suspended. We're investigating the issue and taking measures to protect your funds.
If any user fund is affected by this incident, it'll be covered completely by EXMO.https://t.co/QCtOGRFE65

— EXMO (@Exmo_Com) December 21, 2020

Hackers withdrew funds to the following addresses:

The exchange asks that all services and exchanges block accounts connected to the wallets listed above. 

EXMO has encouraged users not to deposit funds to the existing EXMO addresses. EXMO staff reportedly re-deployed hot wallets immediately upon noticing the suspicious activity.

The exchange statement says EXMO will cover any user funds affected by the incident.

EXMO reported the incident to the London police and will be keeping in contact with the Cybercrime department.

Despite the maturing industry, cryptocurrency hacks and security breaches still occur.

$4 billion was stolen in cryptocurrency in the first half of 2019, with notable incidents including the fall of the QuadrigaCX exchange in which $170 million was lost. Canadian authorities now believe QuadrigaCX was a Ponzi scheme in the first place.

$50 million was stolen in 2020 from DeFi projects alone. Crypto intelligence company CipherTrace reports that crypto crime has slowed this year, although it states that $1.8 billion was still stolen in the first ten months of the year.

As the industry attracts more institutional investment and regulatory scrutiny, the issue of securing exchanges and providing enterprise-grade security measures becomes increasingly important.

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