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    Crypto Exchange XT.com Halts Withdrawals Following $1.7 Million Suspected Hack Despite Claiming Routine Maintenance

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    30s Summary

    Crypto exchange XT.com, with daily trades of $3.4 million, has postponed all withdrawals after a suspected hack costing them $1.7 million. The company insists the halt is for upgrading and maintenance. The announcement was made an hour before PeckShield, a blockchain security firm, reported the suspected hack. XT.com acknowledged an unusual money transfer but asserts that users’ assets are secure and all stolen funds, swapped for 461.58 Ether, have been tracked. The exchange, operating since 2018 and trading over 1,000 types of digital currencies, is yet to comment on the alleged hack.

    Full Article

    The crypto exchange, XT.com, which trades $3.4 million daily, has hit the pause button on all withdrawals from its platform. This move comes after a suspected hack, which cost them a whopping $1.7 million.

    The big bosses at XT.com have stopped all crypto withdrawals. Their official reason for this move? They’re upgrading and maintaining their “wallet” – that’s where all the virtual money lives. This was officially announced on Nov. 28.

    Interestingly enough, XT.com’s announcement was made just about an hour before the blockchain security firm, PeckShield, let everyone know that they think XT.com might’ve been hit by $1.7 million hack.

    Following this, XT.com recognized there’d been a weird transfer of money. But don’t worry, they’ve assured us that this won’t hurt their users because they’ve got a security measure in place. They’ve got 1.5 times the amount of their user’s assets as a safety stock.

    And here’s a juicy detail – the suspected criminal has allegedly swapped the stolen money for 461.58 Ether (ETH). That’s another type of virtual currency, just like bitcoin. The swapped funds are now chilling in an Ethereum address, spotted by PeckShield.

    A little insider info for those who aren’t familiar – XT.com has been around since 2018. It’s based in Seychelles and lets you trade over 1,000 types of digital currencies. At present, they’re hustling around $3.4 million worth of virtual cash every single day, so it’s a pretty big deal.

    We reached out to XT.com to get their take on the supposed hack. But as of now, we’re still waiting to hear back from them. We’ll keep you posted as we get more info on this story. Hang tight!

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