Hackers steal $70m from Phemex in 2025’s largest attack so far
The cryptographic exchange Phemex, whose headquarters are in Singapore, investigating a hot portfolio of $ 70 million while the pirates continue to siphon funds in Ethereum wallets.
Blockchain analysis cabinet Peck shield reported that Phemex lost $ 69.1 million in a feat on January 23 targeting hot stock portfolios, marking what seems to be the largest cryptographic hacking of 2025 to date. In a January 24 job On X, Peckshield revealed that hacking had an impact on the wallets of several blockchains, including Ethereum (Ethn), Solana (GROUND), XRP (Xrp) and Bitcoin (BTC).
According to Hacken analysts, unidentified hackers, believed Having links with North Korea, acted quickly to convert the stolen tether (USDT) and the USD part (USDC) Stable parts in ETH, in order to “bypass the risks of black list”.
Just about Ethereum, around 20 million dollars in assets, including ETH and stable parts, were exhausted. Solana represented $ 17 million in losses, followed by $ 13 million in XRP and $ 5.3 million in Bitcoin, according to Peckshield’s distribution on January 24.
“Cold wallets remain safe”
Federico Variola, CEO of Phemex reassured to users that the cold portfolios of the exchange “remain safe”. It later revealed that the withdrawals of the USDT and the USDC “are gradually restored”.
“All requests will be examined manually by our security team, so be patient with waiting time,” Variola said in a release of January 24. Message x. Variola added that Bitcoin portfolios have not been affected and that BTC withdrawals will soon be activated “.
The details on how the feat occurred remain vague. Phemex said she was working on a “compensation plan, which will be announced soon”. Piracy exceeds the Fortnewheel feat of $ 21 million on BNB Chain earlier this year, making it the largest cryptographic hacking of 2025 to date, according to DE.FI. data.
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