EXMO Announces Date of Resumption of Withdrawal of Funds

Exmo, a cryptocurrency exchange that has recently been hacked, has announced the date to resume deposit and withdraw funds for major cryptocurrencies.

December 25, 2020 | AtoZ Markets – EXMO cryptocurrency exchange has announced the date of resumption of deposit and withdrawal of funds on its official website.

When will EXMO resume deposits and withdrawals of funds?

As per the announcement, deposits and withdrawals of major cryptocurrencies with EXMO, which include Bitcoin, XRP, and USDT, are scheduled to open on December 25-26, 2020. The withdrawal of fiat funds will be restored approximately at the same time, the exchange writes.

EXMO emphasizes that for deposits, users now need to create a new wallet address. Deposits to old wallet addresses will not be credited, EXMO reported.

Recall that earlier EXMO froze the withdrawal of cryptocurrencies after revealing an abnormal withdrawal of funds from exchange wallets to unknown addresses. The exchange found out that the number of stolen funds is 6%, and not 5%, as previously stated. The exchange contacted CipherTrace, Chainalysis, and Crystal to identify the attackers.

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"An internal security audit showed that the withdrawal affected hot wallets BTC , XRP, ZEC, USDT, ETC and ETH, which is about 5 percent of total assets," the announcement said.

For the first time, the exchange identified suspicious transactions on December 21 at 05:27 GMT.

Funds are safe

EXMO claims that they immediately reacted to the incident and withdrew the remaining funds from the hacked hot wallets. The exchange also assured that it will cover all damage from its own insurance fund:

"We assure you that in the event that users have lost funds, EXMO will fully compensate the damage from its own insurance fund."

Based on the results of an internal audit, EXMO representatives were able to identify the wallets to which the attacker (or a group of hackers) transferred funds:

  • USDT ( ERC20 ) - 0xa910f92acdaf488fa6ef02174fb86208ad7722ba
  • ETH - 0x4BA6B2fF35055aF5406923406442cD3aB29F50Ce
  • BTC - 1A4PXZE5j8v7UuapYckq6fSegmY5i8uUyq
  • ZEC - t1StUQiw1YyHT515xDxwxjfhEcw2iGSq2yL
  • XRP - rwU8rAiE2eyEPz3sikfbHuqCuiAtdXqa2v (tag 2033412069)
  • ETC - 0x4d9EF6846126Da2867AF503448be0508542C971e

EXMO called for the blocking of accounts associated with the above addresses and also reported informing the London police of the incident.

EXMO Business Development Director Maria Stankevich said the exchange was conducting an investigation and also stressed that the assets in cold storage are “safe”.

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