Ethereum

<p>XT.com, a cryptocurrency exchange with daily trading volumes of $3.4 billion, has suspended withdrawals following a suspected $1.7 million hack.</p>
<p>On Nov. 28, the exchange cited “wallet upgrade and maintenance” as the reason for suspending withdrawals.</p>
<p>Shortly after the announcement, blockchain security firm PeckShield reported that XT.com “appeared to have been hacked” for $1.7 million in cryptocurrency.</p>
<h3 class="wp-block-heading" id="platform-response">Platform Response</h3>
<p>XT.com later acknowledged the issue, stating there had been an “abnormal transfer of platform wallet assets.”</p>
<p>“Rest assured, this will not affect our users,” the exchange assured, adding that it “always maintains reserves 1.5x greater than user assets to ensure maximum security.”</p>
<h3 class="wp-block-heading" id="hack-details">Hack Details</h3>
<p>According to PeckShield, the suspected hacker swapped the stolen funds for 461.58 Ether (ETH), valued at approximately $3,618.19 per ETH.</p>
<p>The swapped assets are now held in an Ethereum wallet identified by PeckShield.</p>
<h3 class="wp-block-heading" id="about-xt-com">About XT.com</h3>
<p>Established in 2018, XT.com is a centralized exchange registered in Seychelles.</p>
<p>It facilitates trading of over 1,000 digital currencies and had daily trading volumes of $3.4 billion at the time of the incident.</p>
<h3 class="wp-block-heading" id="pending-clarifications">Pending Clarifications</h3>
<p>Cointelegraph reached out to XT.com for comment on the situation but had not received a response as of publication.</p>
<p>This incident adds to a growing list of hacks targeting cryptocurrency exchanges, highlighting the persistent security challenges within the industry.</p>

XT.com Suspends Withdrawals After $1.7mn Crypto Hack

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