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Phemex Exchange Reports $85 Million Cryptocurrency Theft

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💰🔒 Phemex crypto exchange suffers $85 million security breach. On Thursday, the Phemex cryptocurrency exchange experienced a significant cyberattack, resulting in the theft of over $85 million from its hot wallets, while cold wallets remained secure. Following the breach, Phemex suspended all deposits and withdrawals and initiated an emergency response to address vulnerabilities. The stolen amount was initially estimated at $29 million but was later revised upward by security firms. Phemex is gradually restoring withdrawals and has implemented a new security system monitored by cybersecurity partners. The identity of the attackers remains unknown, but the incident highlights ongoing threats from sophisticated hacking groups, including those linked to North Korea. Users are advised to contact customer support for any pending transactions.

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