The Lazarus Hacking Group stole $55 million by hacking the CoinEx Crypto Exchange.

A significant amount of money was sent to an address with no history on Sept. 12 on CoinEx. Experts in security quickly surmised that the exchange had been compromised; preliminary calculations put the damage at about $27 million. Security company SlowMist said that the vulnerability has cost over $55 million in damages as of the time of writing.

Users were reassured by CoinEx Global after the attack that their monies were safe and that anyone impacted would “receive 100% compensation” for any losses incurred as a result of the theft. In addition, in order to increase security, the exchange momentarily halted withdrawals and deposits. The exchange has pledged to provide a thorough report about the occurrence soon and is still keeping an eye on the issue.

The hackers that carried out the breach seem to have ties to the $41 million hack that occurred recently on the cryptocurrency gambling site Stake, based on their on-chain conduct. The FBI in the United States decided on September 7 that the Lazarus Group of North Korea was responsible for the assault on Stake.

According to security company SlowMist, the CoinEx hackers stole digital assets worth at least $55 million.

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