Ethereum

XT.com, a cryptocurrency exchange with a reported daily trading volume of $3.4 billion, has suspended withdrawals after a suspected $1.7 million hack.
The exchange suspended withdrawals, citing “wallet upgrade and maintenance,” it <a data-ct-non-breakable="null" href="https://xtsupport.zendesk.com/hc/en-us/articles/40522692897561-XT-has-suspended-all-coin-withdrawals" rel="null" target="null" text="null" title="null">said</a> on Nov. 28.
<figure>
 <img alt="Hackers, Cryptocurrency Exchange, Hacks, Trading" src="https://s3.cointelegraph.com/uploads/2024-11/01937236-8d46-77a0-a802-c68eba94c075" title="">
 <figcaption style="text-align: center;">
 XT.com’s withdrawal suspension announcement on Nov. 28. Source: XT.com
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The statement was issued about an hour before blockchain security firm PeckShield <a data-ct-non-breakable="null" href="https://x.com/PeckShieldAlert/status/1862059885174874355" rel="null" target="null" text="null" title="https://x.com/PeckShieldAlert/status/1862059885174874355">reported</a> that XT.com “appeared to have been hacked” for $1.7 million worth of cryptocurrency.
XT.com subsequently <a data-ct-non-breakable="null" href="https://x.com/XTexchange/status/1862072439154569282" rel="null" target="null" text="null" title="null">issued</a> a statement acknowledging an “abnormal transfer of platform wallet assets.”
“Rest assured, this will not affect our users,” the exchange said, adding that it “always maintains reserves 1.5x greater than user assets to ensure maximum security.”
<h2 id="hacker-swaps-stolen-funds">Hacker swaps stolen funds</h2>
According to PeckShield data, the suspected XT.com hacker had already swapped funds stolen from the exchange for 461.58 Ether (<a data-ct-non-breakable="null" href="https://cointelegraph.com/ethereum-price" rel="null" target="null" text="null" title="null">ETH</a>). The swapped assets sat on an Ethereum address identified by PeckShield.
<figure>
 <img alt="Hackers, Cryptocurrency Exchange, Hacks, Trading" src="https://s3.cointelegraph.com/uploads/2024-11/01937236-0fd9-7820-94cb-a068910fea76" title="">
 <figcaption style="text-align: center;">
 PeckShield’s announcement of the alleged XT.com’s $1.7 million hack. Source: PeckShieldAlert
 </figcaption>
</figure>
XT.com is a centralized cryptocurrency exchange established in 2018 and is registered in the Seychelles. The exchange facilitates trading of more than 1,000 digital currencies, with daily trading <a data-ct-non-breakable="null" href="https://www.coingecko.com/en/exchanges/xt" rel="null" target="null" text="null" title="https://www.coingecko.com/en/exchanges/xt">volumes</a> of around $3.4 billion.
Cointelegraph approached XT.com for a comment regarding the issue but had not received a response at the time of publication.
<h2 id="funds-are-safu">Funds are SAFU</h2>
In another communication to its followers on X, XT.com reassured users that their crypto holdings at the exchange remain safe and unaffected by “recent abnormal asset transfers.”
<figure>
 <img alt="Hackers, Cryptocurrency Exchange, Hacks, Trading" src="https://s3.cointelegraph.com/uploads/2024-11/019372fc-9fdc-7e40-ae20-641aa78676e9" title="">
 <figcaption style="text-align: center;">
 XT.com’s communication following the withdrawal suspension on Nov. 28. Source: <a data-ct-non-breakable="null" href="https://x.com/XTexchange/status/1862126769593262456" rel="nofollow noopener" target="_blank" text="null" title="https://x.com/XTexchange/status/1862126769593262456">XT Ecxhange</a>
 </figcaption>
</figure>
XT.com stressed that the affected assets belong to the exchange’s reserves. Thus, user account holdings aren’t affected.
“We’re taking immediate action, including launching a Merkle tree proof of reserves by mid-December to enhance transparency,” XT.com added.
Magazine: <a data-ct-non-breakable="null" href="https://cointelegraph.com/magazine/bitcoin-dominance-crypto-predictions-bull-run-benjamin-cowen-hall-of-flame/" rel="null" target="null" text="null" title="null">Bitcoin dominance will fall in 2025: Benjamin Cowen, X Hall of Flame</a>
XT.com, a cryptocurrency exchange with a reported daily trading volume of $3.4 billion, has suspended withdrawals after a suspected $1.7 million hack.
The exchange suspended withdrawals, citing “wallet upgrade and maintenance,” it <a data-ct-non-breakable="null" href="https://xtsupport.zendesk.com/hc/en-us/articles/40522692897561-XT-has-suspended-all-coin-withdrawals" rel="null" target="null" text="null" title="null">said</a> on Nov. 28.
<figure>
 <img alt="Hackers, Cryptocurrency Exchange, Hacks, Trading" src="https://s3.cointelegraph.com/uploads/2024-11/01937236-8d46-77a0-a802-c68eba94c075" title="">
 <figcaption style="text-align: center;">
 XT.com’s withdrawal suspension announcement on Nov. 28. Source: XT.com
 </figcaption>
</figure>
The statement was issued about an hour before blockchain security firm PeckShield <a data-ct-non-breakable="null" href="https://x.com/PeckShieldAlert/status/1862059885174874355" rel="nofollow noopener" target="_blank" text="null" title="https://x.com/PeckShieldAlert/status/1862059885174874355">reported</a> that XT.com “appeared to have been hacked” for $1.7 million worth of cryptocurrency.
XT.com subsequently <a data-ct-non-breakable="null" href="https://x.com/XTexchange/status/1862072439154569282" rel="null" target="null" text="null" title="null">issued</a> a statement acknowledging an “abnormal transfer of platform wallet assets.”
“Rest assured, this will not affect our users,” the exchange said, adding that it “always maintains reserves 1.5x greater than user assets to ensure maximum security.”
<h2 id="hacker-swaps-stolen-funds">Hacker swaps stolen funds</h2>
According to PeckShield data, the suspected XT.com hacker had already swapped funds stolen from the exchange for 461.58 Ether (<a data-ct-non-breakable="null" href="https://cointelegraph.com/ethereum-price" rel="null" target="null" text="null" title="null">ETH</a>). The swapped assets sat on an Ethereum address identified by PeckShield.
<figure>
 <img alt="Hackers, Cryptocurrency Exchange, Hacks, Trading" src="https://s3.cointelegraph.com/uploads/2024-11/01937236-0fd9-7820-94cb-a068910fea76" title="">
 <figcaption style="text-align: center;">
 PeckShield’s announcement of the alleged XT.com’s $1.7 million hack. Source: PeckShieldAlert
 </figcaption>
</figure>
XT.com is a centralized cryptocurrency exchange established in 2018 and is registered in the Seychelles. The exchange facilitates trading of more than 1,000 digital currencies, with daily trading <a data-ct-non-breakable="null" href="https://www.coingecko.com/en/exchanges/xt" rel="nofollow noopener" target="_blank" text="null" title="https://www.coingecko.com/en/exchanges/xt">volumes</a> of around $3.4 billion.
Cointelegraph approached XT.com for a comment regarding the issue but had not received a response at the time of publication.
This is a developing story, and further information will be added as it becomes available.
Magazine: <a data-ct-non-breakable="null" href="https://cointelegraph.com/magazine/bitcoin-dominance-crypto-predictions-bull-run-benjamin-cowen-hall-of-flame/" rel="null" target="null" text="null" title="null">Bitcoin dominance will fall in 2025: Benjamin Cowen, X Hall of Flame</a>

Crypto exchange XT.com suspends withdrawals after suspected $1.7M hack

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