Source: Cointelegraph Original: "{title}"
According to reports, the cryptocurrency exchange XT.com, with a daily trading volume of $3.4 billion, has suspended withdrawals following a suspected $1.7 million hack.
The exchange announced on November 28 that it had suspended withdrawals due to "wallet upgrades and maintenance."
On November 28, XT.com issued a notice of the withdrawal suspension. Source: XT.com
This statement was released about an hour before blockchain security company PeckShield reported that XT.com "appears to have been hacked" for $1.7 million worth of cryptocurrency.
XT.com subsequently issued a statement acknowledging "abnormal transfers of platform wallet assets."
"Please rest assured, this will not affect our users," the exchange said, adding that it "always maintains reserves 1.5 times greater than user assets to ensure maximum security."
According to PeckShield's data, the suspected hacker of XT.com has converted the stolen funds into 461.58 Ether (ETH). The exchanged assets are located at an Ethereum address identified by PeckShield.
PeckShield announced that XT.com was allegedly hacked for $1.7 million. Source: PeckShieldAlert
XT.com is a centralized cryptocurrency exchange founded in 2018 and registered in Seychelles. The exchange facilitates trading for over 1,000 digital currencies, with a daily trading volume of approximately $3.4 billion.
Cointelegraph has reached out to XT.com for comment, but has not received a response as of publication.
In another message posted on X to its followers, XT.com assured users that their cryptocurrencies held on the exchange remain safe and are not affected by the "recent abnormal asset transfers."
XT.com’s communication following the suspension of withdrawals on November 28. Source: XT Exchange
XT.com emphasized that the affected assets belong to the exchange's reserves. Therefore, the assets held in user accounts will not be impacted.
"XT.com added: "We are taking immediate action, including launching Merkle tree reserve proof by mid-December to enhance transparency."
Magazine: Bitcoin's dominance will decline by 2025: Benjamin Cohen, X Flame Hall
According to reports, the cryptocurrency exchange XT.com, with a daily trading volume of $3.4 billion, has suspended withdrawals following a suspected $1.7 million hack.
The exchange announced on November 28 that it had suspended withdrawals due to "wallet upgrades and maintenance."
On November 28, XT.com issued a notice of the withdrawal suspension. Source: XT.com
This statement was released about an hour before blockchain security company PeckShield reported that XT.com "appears to have been hacked" for $1.7 million worth of cryptocurrency.
XT.com subsequently issued a statement acknowledging "abnormal transfers of platform wallet assets."
"Please rest assured, this will not affect our users," the exchange said, adding that it "always maintains reserves 1.5 times greater than user assets to ensure maximum security."
According to PeckShield's data, the suspected hacker of XT.com has converted the stolen funds into 461.58 Ether (ETH). The exchanged assets are located at an Ethereum address identified by PeckShield.
PeckShield announced that XT.com was allegedly hacked for $1.7 million. Source: PeckShieldAlert
XT.com is a centralized cryptocurrency exchange founded in 2018 and registered in Seychelles. The exchange facilitates trading for over 1,000 digital currencies, with a daily trading volume of approximately $3.4 billion.
Cointelegraph has reached out to XT.com for comment, but has not received a response as of publication.
This is an evolving story, and we will provide updates as more information becomes available.
Magazine: Bitcoin's dominance will decline by 2025: Benjamin Cohen, X Flame Hall
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