The post Crypto News: Xeggex CEO’s Account Hacked, Funds Go Missing appeared first on Coinpedia Fintech News
Xeggex, a popular cryptocurrency exchange, has been experiencing issues after users reported sudden loss of logins and disappearing asset balances. Many are concerned that the exchange may have been “rugpulled.”
Xeggex officials have explained that the CEO’s account was hacked, which led to a temporary suspension of logins and access to user funds. However, the exchange reassured users that their wallets were successfully locked to prevent any loss of funds. The database was disconnected from the network, which caused the inability to log in to accounts, though the front-end of the website remained operational.
The situation caused a lot of panic among users, especially with the order books showing empty and balances not visible. Some users expressed concern that the platform may have suffered a more severe breach. To safeguard against potential threats, Xeggex took the database offline to prevent hackers from further exploiting the platform.
The company has committed to conducting a full assessment of the breach and plans to update users as soon as possible. While no funds have been moved according to blockchain data, the exchange is still investigating the hack’s full impact. At this point, Xeggex has confirmed that they are actively working to secure all wallets and prevent further issues.
“Dear users, in this hard time our CEO was hacked and he lost tg account and xeggex community group beside that we still don’t know details about it. Also what is important in this moment is that we succeed to lock down wallets so funds are safe,” the company said.
They added, “Problem with logins is still there due that we disconnected database from the network and we will go in the background to examine everything.. Next news will be more detailed after we get wider picture.”