The C-CEX cryptocurrency exchange has reportedly been hacked on September 9. The hackers were able to withdraw all Litecoin (LTC) and Dogecoin (DOGE) from the exchange servers.
Acknowledging the loss, the exchange asked its customers to avoid sending LTC and DOGE to the C-CEX exchange’s old addresses. It also everyone to report any information received on the hackers. The exchange said that they are ready to cooperate with the authorities.
The C-CEX cryptocurrency exchange issued a statement on BitcoinTalk. In its statement, it claimed that a breach was discovered by the hackers in their withdrawal procedures. The exchange informed that the hackers were able to repeat the withdrawals several times and as a result, its LTC and DOGE have been completely depleted. The exchange further added that since it is not possible for users to withdraw DOGE and LTC from their current balances, it has transferred the same to “Hold” balances.
The C-CEX exchange added that they have already fixed the exploit and informed the users that the hackers used lots of different accounts to carry out this attack. The exchange also took to Twitter to announce the breach.
We regret to inform that there was a breach discovered by hackers in our withdrawal procedures.
DOGE and LTC balances stolen.
Important! Do not send DOGE or LTC to old addresses! You need to get new address for new deposits!
Full info: https://t.co/0jGVw77JoX
— C-CEX.com (@CryptoCurrEncyX) September 9, 2018
The C-CEX exchange that is based out of Germany had come under fire earlier as well for the way it manages the funds of users. The exchange does not have a good reputation online. That’s the reason, CryptoCompare has given it a 1.9 rating. It doesn’t seem this time that the hackers made off with more than a few thousand dollars in this attack, as mentioned in the Bitcoin Exchange Guide report.
The C-CEX cryptocurrency exchange is relatively an insignificant exchange in terms of trading volume. However, the fact that is alarming is that crypto exchanges have recently been the target of hackers who are looking to whisk away with funds in the users’ wallets along with their personal information. Be it a decentralized exchange like IDEX or a centralized one like Binance, all of these exchanges have some or the other weakness, as stated in the Bitcoin Exchange Guide report.[The views and opinions expressed in this article are those of the authors and do not necessarily reflect the views and/or the official policy of the website. ]