Phemex hot wallet breach impacts multiple blockchains, increasing total losses to an estimated $37 million.
Crypto hacks in 2024 caused $3.01 billion in losses, emphasizing the growing need for enhanced security.
Crypto exchange Phemex is facing a security breach concerning its hot wallets. Thought to be a hacking attack with approximately $29 million stolen, the occurrence spread throughout several blockchain networks, including BNAV, ETH, OP, POL, BASE, and ARB. The assets comprise several crypto assets, including USDT, USDC, Ethereum (ETH), and others. As of press time, the assets have been changed to Ethereum.
Deeper analysis showed Bitcoin and TRON blockchains were likewise compromised. This puts the whole projected loss at about $37 million, according to Cyvers Alerts. This result highlights the value of Phemex’s losses, therefore aggravating the effect of the strike.
ALERTHey @Phemex_official, Our systems have detected multiple suspicious transactions involving your hot wallet

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