Blockchain security firm Cyvers Alerts said it detected a suspicious outflow of approximately $29 million from Singapore-based cryptocurrency exchange Phemex.
Cyvers Alerts said that there were multiple suspicious transactions in multiple altcoins from the Phemex hot wallet and the funds were exchanged for Ethereum (ETH).
According to PeckShielAlert's post, altcoins that experienced an outflow included SNX, LDO, ARKM, PORTAL, LADYS and WLD.
There are also altcoins such as USDC, USDT, ETH, LINK, PEPE, FET and AVAX.
Phemex Official, our systems have detected a large number of suspicious transactions related to your hot wallets on various chains.
$29 million worth of digital assets were transferred by suspicious addresses on chains, including BNB, ETH, OP, POL, BASE, and ARB.
These addresses have already started exchanging their assets for ETH.
We are actively monitoring the situation and will provide more details soon!
“A deeper analysis revealed that both the BTC and TRON blockchains were also affected, with the estimated total loss now reaching approximately $37 million.”
Phemex CEO Federico Variola shared on his X account, “While we are reviewing a report regarding one of our hot wallets, rest assured that our cold wallets are secure and can be checked by anyone here. We will be releasing more updates soon.”
Upon deeper analysis, it has come to light that both $BTC and $TRON blockchains have also been impacted, with the estimated total loss now reaching approximately $37 million.
— 🚨 Cyvers Alerts 🚨 (@CyversAlerts) January 23, 2025
*This is not investment advice.
