CoinEx Resumes Crypto Services; Users Face Fund Retrieval Challenges on JPEX

CoinEx Resumes Cryptocurrency Deposit and Withdrawal Services

According to an official announcement from CoinEx, the exchange has resumed

cryptocurrency

deposit and withdrawal services. It's important to note that users are required to generate new deposit addresses, as sending assets to old addresses may result in loss.

Previously, on September 12th,

CoinEx Exchange

suffered a theft due to a private key leak, resulting in a loss of tokens worth over $70 million. The exchange has stated that the stolen assets represent only a small portion of its total managed assets, and affected users will receive full compensation.

According to on-chain tracking by MistTrack, the CoinEx attacker's address has converted SOL to ETH and transferred it to platforms like KuCoin within the past 24 hours:

• In the past 24 hours, the CoinEx attacker used the Wormhole Bridge to bridge SOL from Solana to Ethereum addresses (0x602...397) and (0x938...4d8). Subsequently, the attacker exchanged SOL for ETH through ParaSwap, KyberSwap, and Uniswap.

• Address (0x938...4d8) transferred all 150 ETH to platforms like KuCoin, Sideshift, and ChangeNOW. Address (0x602...397) transferred 60 ETH to KuCoin.

• The attacker also used Mayan Swap to convert SOL to ETH and bridge it from Solana to an Ethereum address (0x413...54F).

• Currently, the attacker's address (G3ud...t1kq) still holds 40,399.9 SOL, while address (0x413...54F) still holds 606.6 ETH.



JPEX Launches Holder Dividend Program, Users May Face Challenges in Withdrawing Assets

In recent days, the JPEX incident has garnered significant attention in the cryptocurrency world for several reasons:

• Large Amount of Involved Funds: According to the latest information released by relevant authorities, the total amount involved in the JPEX incident has surged to 1.3 billion Hong Kong dollars.

• Hong Kong Policy Involvement: Earlier this year, Hong Kong displayed an open attitude towards the Web3 industry in its policies. The JPEX incident serves as a case study to observe Hong Kong's stance towards the blockchain industry.

• Extensive Marketing Efforts in Hong Kong: JPEX had engaged in substantial marketing efforts in Hong Kong, with multiple celebrities endorsing the platform.

JPEX has recently announced a new plan regarding user assets, which involves the introduction of a “DAO Holder Dividend Program.” The platform will distribute 49% of dividends to DAO holders, and existing users can exchange their assets currently held on the platform for DAO tokens at a 1:1 ratio. After one year (i.e., after September 20, 2024), users will have the option to repurchase their tokens at 30% of the original conversion price, and after two years (i.e., after September 20, 2025), they can repurchase at 100% of the conversion price.

Let's assume a user converts $10,000 USDT into DAO Stakeholder dividends:

• $10,000 USDT can be exchanged for 10,000 DAO Stakeholder dividends, meaning $10,000 USDT = 10,000 DAO Stakeholder dividends.

• At the current stage, 10,000 DAO Stakeholder dividends are equivalent to $100 USDT.

• After one year: 10,000 DAO Stakeholder dividends would be worth $3,000 USDT.

• After two years: 10,000 DAO Stakeholder dividends would be worth $10,000 USDT.

If the execution goes smoothly, users would need at least two years to retrieve their principal amount.



In recent times, there have been multiple security breaches affecting DeFi protocols, and exchanges have encountered frequent issues. WikiBit recommends that you use their platform to check the ratings of the exchange or protocol you intend to use before engaging with them. This precaution can help you avoid putting your capital at risk.