FAQ About Security Incident

7. When will withdrawal be enabled? Why are all users' assets withdrawals closed, not just the hacked wallet's?

Through our preliminary investigation, we have determined the root cause of this incident to be a compromised private key for our hot wallets which we temporarily used to store the exchange's assets to facilitates deposits and withdrawals. To best safeguard our user assets, we have suspended the withdrawal service to avoid further uncertainty around user funds. Also, we have fixed system vulnerabilities and transferred remaining assets securely. Our team is currently focused on building and deploying an entirely new and robust wallet system to handle activities within the 211 chains and 737 assets. We expect finalization on the new wallet system next week, after which withdrawals will gradually resume after stringent security check. Your patience is much appreciated during this process. Please refer to our website for timely updates.

8. Does CoinEx have a program to buy back stolen coins/tokens?

We fully recognize that we are playing a paramount role in the blockchain ecosystem, and an exchange's prosperity relies wholly on the trust of its users. Regarding compensation plans for the stolen assets, we are now formulating options. Please be patient with us during this process. We will announce accordingly once finalized. The compensation will be provided on a per-coin basis, with details to follow in our next official announcements. Please stay tuned to our official announcements.

9. Has CoinEx identified the identity of the hacker?

The hacker's identity remains under investigation. We have noted attribution claims made by some security firms, but our current focus is to expeditiously build and deploy the new wallet architecture and restore impacted users and functions, which is expected to finalize next week. Additionally, we have opened communication channels to the hackers in hopes of proactive engagement toward a mutually agreeable resolution.

10. Are users of other products (ViaBTC, ViaWallet, etc.) affected by this hack?

Through the expeditious containment response enacted by our risk management team, the breach was sealed off. Furthermore, each product line operates independently with its own risk control system, so issues affecting one will not impact the others. Therefore, rest assured in continuing to use our other products and services. Our security and risk management teams are proactively working on robust upgrades across the existing infrastructure to enable services with complete peace of mind.

11. What are your future plans to ensure assets security and build a trustworthy brand image?

First, we will further upgrade our security protocols and risk management systems.

Second, we will increase the frequency of vulnerability assessments and strengthen our early warning mechanisms for potential attacks.

Third, we will establish CoinEx Risk-Prevention Fund to enhance our preparedness and response capabilities for contingencies.

Fourth, we will proactively collaborate with security firms and industry partners to rebuild our security infrastructure.

Fifth, we urge broader cooperation across the industry to build a healthy, stable and sustainable crypto environment together.

We firmly believe that with sincerity and perseverance, we will continue to earn the community's trust and support.

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