Attackers allegedly stole $69 million from cryptocurrency platform Phemex
January 27, 2025
Crooks stole at least $69 million from Singapore-based cryptocurrency platform Phemex in an alleged cyberattack.
Singapore-based crypto platform Phemex paused operations after a cyberattack that resulted in the theft of $69M. Phemex CEO Federico Variola stated they are restoring withdrawals and temporarily manually reviewing all requests.
On Thursday, researchers at the blockchain security firm PeckShield noticed a suspicious ‘outflow of large funds from the cryptocurrency platform.
The CEO reassured customers, noting a snapshot of user balances was taken at 12 PM UTC for a loyalty reward, with details to come.
Variola pointed out that the company’s cold wallets remain safe and everyone can check them.
https://twitter.com/Phemex_official/status/1882417902038749317
Phemex, with over 5M users and approval to operate in several countries, joins other Singapore-based crypto platforms targeted by threat actors over the last months. Experts suspect the $69M theft was a sophisticated attack potentially linked to a nation-state actor.
North Korea’s APT groups are known for major cyber attacks against organizations in the crypto industry.
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Pierluigi Paganini
(SecurityAffairs – hacking, cryptocurrency)