Trading Platform XT.com Loses $1.7M in Hacker Attack

XT.com, a cryptocurrency exchange with a daily trading volume of $3.4 billion, has temporarily halted withdrawals due to a suspected hack resulting in a loss of $1.7 million.

On November 28, the exchange released a statement announcing the suspension of withdrawals, stating that it was due to a “wallet upgrade and maintenance.” This announcement was made just before blockchain security company PeckShield reported that XT.com had potentially been hacked for $1.7 million worth of cryptocurrency.

In response to the reported hack, XT.com released another statement acknowledging an “abnormal transfer of platform wallet assets.” However, the exchange reassured its users that their accounts would not be affected, and that they always maintain reserves exceeding user assets for maximum security.

According to reports from PeckShield, the suspected hacker had already exchanged stolen funds from XT.com for 461.58 Ether, which were then found on an Ethereum address identified by the security firm.