Security News > 2020 > December > EXMO cryptocurrency exchange hacked, loses 5% of total assets
British cryptocurrency exchange EXMO has disclosed that unknown attackers withdrew almost 5% of its total assets after compromising its hot wallets.
Hot wallets are Internet-connected and are used by exchanges to temporarily store assets for ongoing transactions and transfers unlike cold wallets which have no Internet connection.
The crypto exchange had a 2273 BTC 24-hour trading volume and 27,795 active traders according to EXMO's website.
EXMO says that it has temporarily suspended all withdrawals after detecting suspicious and large withdrawals starting with December 21st, at 2:27:02 UTC. "We are still investigating the incident, but as of now, the security audit report showed that some amounts of BTC, XRP, ZEC, USDT, ETC and ETH in EXMO's hot wallets were transferred out of the exchange," EXMO said.
"We reacted immediately and re-deployed hot wallets. The affected hot wallets comprise near 5% of the total assets. Let us stress that all the assets in the cold wallets are safe."