Everything about hacking the Coinx digital currency exchange; What should Iranian traders do?

Yesterday afternoon (September 21, 1402), unofficial news about the possible hacking of the Quinx exchange and the theft of millions of dollars of digital currency from this platform were circulating on social networks. Hours later, Quinx officially confirmed the attack and explained to users about its team’s security measures. Considering the large number of Iranian users active in this foreign exchange, in this article we have explained the necessary security measures for the traders of this platform.

Exclusive to AruzDigital – Yesterday’s story started with unofficial news about the possible hacking of Quinx and the theft of 27.8 million dollars of digital assets from the Ethereum, Tron and Polygon wallets of this exchange.

Shortly after the unofficial news broke, the Quinx Twitter page officially confirmed the news without mentioning the amount stolen. In its tweet, the Quinx team claims that the stolen amount is only a “very small” part of the exchange’s assets, and despite the many concerns about the security situation of this platform, it has emphasized that “users’ assets remain intact and are safe.” . The surprising thing about Quinx’s tweet, however, is that right after mentioning that the users’ assets were intact, their team promised to pay 100% of the “damages and losses of the people affected by this hack”.

The Quinx team has also announced that it has identified and tagged addresses suspected to be related to the hacking of its platform. In the notices related to the identification of these addresses, Quinx has also asked other projects and activists of the digital currency industry to help them in tagging and freezing suspicious addresses.

But the story does not end there, and more recent investigations (hours close to the publication of this report) show that the number of assets stolen from Quinx has increased to more than 53 million dollars.

The Bridge project team, affiliated with Sina Stowe, is still involved File Most of the plaintiffs are the losers of the Cryptoland exchange a tweet He announced that 669 million units of this token were stolen from Quinx during this hack.

Necessary security measures for Iranian Coinx traders

Coinx digital currency exchange has attracted many Iranian traders over the past years, and the reason is clearly the possibility of authentication in this exchange using Iranian identification documents, which is generally not common among international platforms due to issues related to Iran’s economic sanctions. It is not conventional.

According to the official announcement of Quinx, deposits and withdrawals in this exchange have been suspended for security reasons until further notice, and users are currently unable to withdraw or even deposit digital currency on this platform.

Due to the sensitive and unknown conditions of Quinx, most security experts advise users Immediately after resuming deposits and withdrawals, withdraw your assets from this exchange and transfer them to a safe place (such as secure non-trust personal wallets).

Therefore, for now, Coinx traders have no choice but to wait for further announcements from the exchange and resume withdrawals. Always keep in mind that long-term storage of digital currencies in centralized exchanges, especially foreign centralized exchanges, is considered a risky behavior and is not recommended by experts.

Also read: What are escrow wallets and non-escrow wallets and what are their differences?