Crooks stole at least $69 million from Singapore-based cryptocurrency platform Phemex in an alleged cyberattack.
Singapore-based crypto platform Phemex paused operations after a cyberattack that resulted in the theft of $69M. Phemex CEO Federico Variola stated they are restoring withdrawals and temporarily manually reviewing all requests.
On Thursday, researchers at the blockchain security firm PeckShield noticed a suspicious ‘outflow of large funds from the cryptocurrency platform.
PeckShield announced that Phemex has been hacked, resulting in a loss of ~$69.1M worth of cryptos. The security firm published a summary of stolen Phemex funds in multiple chains:
The CEO reassured customers, noting a snapshot of user balances was taken at 12 PM UTC for a loyalty reward, with details to come.
Variola pointed out that the company’s cold wallets remain safe and everyone can check them.
Phemex, with over 5M users and approval to operate in several countries, joins other Singapore-based crypto platforms targeted by threat actors over the last months. Experts suspect the $69M theft was a sophisticated attack potentially linked to a nation-state actor.
North Korea’s APT groups are known for major cyber attacks against organizations in the crypto industry.
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