Third, the CoinEx Credit Risk Funds will be introduced to advance the platform's response capabilities for contingencies. Second, the frequency of vulnerability assessments will be increased and new warning mechanisms for potential attacks will be integrated. First, CoinEx is set to enhance security protocols and risk management systems.

Last but not least, the team announced a plan for a major security upgrade. The exchange has noted attribution claims made by some security firms, but its core focus is to expeditiously build and deploy the new wallet architecture and restore impacted users and functions.Īt the same time, the platform has opened communication channels with the hackers in hopes of proactive engagement toward a mutually agreeable resolution. CoinEx representatives answered that this issue remains under investigation. Many supporters and enthusiasts are asking about whether the identity of the attacker is known. CoinEx does not reject communication with hackers While the accurate aggregated amount of the drained funds is still being calculated, the team estimates that approximately $70 million worth of various assets has been lost. In addition to that, the team has once again reaffirmed its commitment to the previously announced 100% compensation program. Therefore, the security incident that occurred in CoinEx will not impact the other product lines. Once we can guarantee the safety, we will open withdrawals.ĬoinEx also reassures its users that each of its product lines operates independently with its own risk control system. Our team is currently focused on building and deploying an entirely new and robust wallet system to handle activities within the 211 chains and 737 assets. We aim to finalize wallet upgrades next week, after which withdrawals will gradually resume in phases upon passing stringent security checks. In this FAQ, we can see that the CoinEx team is making every effort to reopen withdrawals only when it is deemed completely safe for users to access their funds. 15 to address these concerns one by one, aiming to provide full transparency to users. Source: Founder and CEO of CoinEx, Haipo Yang’s TwitterĬonsidering that users are most concerned about the restoration of withdrawal services, compensation for stolen assets, and the security plans moving forward, CoinEx released its FAQ on Sep. He has further pledged that the team is working diligently to promptly restore services and has reassured users that their funds will not be impacted. On September 16th, here's the update on the CoinEx team’s investigation and actions regarding the hack(details in threads): /6UGGjKyBiF- CoinEx Global September 16, 2023ĬoinEx's Founder and CEO, Haipo Yang, has also expressed his sincere regrets about the incident to affected users via his personal Twitter account. Nicoll has been doing his darnedest to defend Dogecoin against trademark registrations by unaffiliated parties.ĭogecoin’s evolution is in the hands of its “co-creators,” he said, “in a way that I do not have the mindset for.” Featured image from, chart from TradingView.#CoinExResponseUpdate - CoinEx Team Work Progress Update Musk, though, retains control of Dogecoin, as rare tweets reveal.

Musk appeared to lose interest in the ensuing months, and the price of DOGE has fallen more than 70% from its all-time high. This sparked a frenzied DOGE rise - punctuated by temporary drops - culminating in Musk’s appearance on Saturday Night Live.ĭOGE collapsed following Musk’s SNL performance, despite his vows to push its price up. The billionaire first mentioned Dogecoin on Twitter in early 2021, sharing a Lion King DOGE meme. Yes there are two official Dogecoin wallet you can get on Dogecoins official website, One is Multidoge and other is Dogecoin Core. Related Reading | Tesla To Accept Dogecoin For Merchandise, Token Soars 30% The Musk Factorĭogecoin’s success is inextricably linked to Tesla CEO Elon Musk’s enthusiasm for it. United States President Joe Biden is likely to announce an executive order next week on the regulation of cryptocurrencies, which impacted mood as well. Markus urged members of the DOGE community in a tweet against being “toxic, crazy, and attacky,” since this may undermine the brand.įriday saw a decline in the value of risk assets as geopolitical tensions resurfaced and investors braced for upcoming interest rate hikes. Just a few weeks ago, Dogecoin co-founder Billy Markus pleaded with followers to “be calm” as the cryptocurrency has struggled to gain traction since last month. Related Reading | Litecoin Creator Praises Dogecoin, Can The Token Get Its Bark Back? DOGE total market cap at $18.76 billion in the daily chart | Source: Dogecoin Price SluggishĪt the time of publication, DOGE was trading lower alongside other major coins, as the global cryptocurrency market cap plunged 5.5% to $1.86 trillion. “I want to be clear that this is a role change, and there will be a transition time.

Dogecoin core damaged