CoinEX hack was by North Korea’s Lazarus Group: SlowMist


  • CoinEx was hacked for over $54 million, with blockchain security firms tying the attack to North Korea’s Lazarus Group.
  • The hackers are reportedly the same one behind recent attacks on Optimism and Polygon.

The hack on crypto exchange CoinEx was likely carried out by hackers from North Korea’s Lazarus Group, according to details shared by blockchain security firm SlowMist.

After highlighting that the security breach on CoinEx had seen more than $54 million in various crypto assets stolen, SlowMist posted another alert earlier today noting the attack could be the work of the notorious North Korea-affiliated group.

Blockchain sleuth ZachXBT also pointed to the same conclusion, noting that Lazarus Group had inadvertently connected the same wallet address used in the hack on Stake on the Optimism and Polygon networks.

CoinEx says users will be compensated

As CoinJournal reported yesterday, the attack on CoinEx saw huge flows from the exchange’s hot wallets with initial reports putting the total amount drained at nearly $28 million. Today, after further blockchain security checks, the heist has reportedly reached more than $54 million. 

Unauthorised fund transfers initially involved ETH, TRON, and MATIC. However, that has since expanded to include BTC, XRP, SOL, BCH and BSC tokens.

CoinEX has since provided an update assuring all affected users that they will be compensated 100%. The exchange had earlier halted deposits and withdrawals.

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