Phemex crypto exchange hit with $29M of ‘suspicious’ outflows – OMG, WTF?!

🚨 Attention, crypto enthusiasts! 🚨 Phemex crypto exchange has been hit with a whopping $29 million worth of ‘suspicious’ outflows, leaving blockchain security firms on high alert. 🚨

πŸ’° Phemex saw over $29 million worth of crypto transfers across multiple blockchains including BNB (BNB), Polygon (POL), Arbitrum (ARB) and Base (BASE), according to onchain security firm Cyvers. πŸ’°

🚨 The outflows point to “suspicious transactions” involving the Phemex hot wallets, Cyvers stated in a Jan. 23 X post:

“Over $29 million worth of digital assets have been transferred by suspicious addresses. These addresses have already begun swapping assets to $ETH.”

😱 Cryptocurrency hackers often convert stolen funds to Ether (ETH) to launder them through crypto mixing protocols like Tornado Cash, which makes the funds difficult to trace. 😱

🀐 However, the crypto exchange has yet to confirm the reason behind the suspicious activity. CryptoMoon has approached Phemex for comment. 🀐

🚨 This is a developing story, and further information will be added as it becomes available. Stay tuned for more juicy details! 🚨

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2025-01-23 16:02