Singapore-based cryptocurrency exchange Phemex has said it is “investigating” reports of a hack after one of its active wallets was emptied of $29 million in crypto tokens.
Crypto security firm Cyvers reported “multiple suspicious transactions” from the Phemex hot wallet across multiple blockchains. The funds were exchanged for ether (ETH).
“While we review a report on one of our hot wallets, rest assured that our cold wallets remain secure and can be reviewed by everyone here; we will post more updates shortly,” Phemex CEO Federico Variola wrote on X .
