On September 12, the cryptocurrency exchange CoinEx experienced an unusually large amount of funds flowing out to an address with no history, leading security experts to suspect that the exchange had been hacked. Blockchain security platform Cyvers Alerts estimates losses at around $27 million.

At approximately 1:21 pm UTC on September 12, a known CoinEx hot wallet transferred approximately 4,947 ether (ETH), worth $7.9 million at the time, to Ethereum account 0x8bf8cd7F001D0584F98F53a3d82eD0bA498cC3dE. The receiving account has no history prior to this transaction.

After this transaction, the CoinEx hot wallet will be activated immediately transfer A large amount of tokens are sent to the same address. Approximately 408,741 DAI stablecoin, 2.7 million Graph (GRT) tokens, 29,158 Uniswap (UNI) tokens, and many other tokens were transferred from the wallet.

Blockchain security company PeckShield report The outflow of funds was “suspicious”. CryptoQuant Research Director Julio Moreno also said claim CoinEx wallet is behaving “strangely” as ether reserves are “now essentially zero ETH.”

As of press time, Coinx has not issued a public statement on the incident.

This is a developing story and more information will be added as it becomes available.