CoinEx Resumes Bitcoin, ETH, DOGE, SHIB Withdrawals

CoinEx Resumes Bitcoin, ETH, DOGE, SHIB Withdrawals

Crypto exchange CoinEx on Wednesday said it will resume deposit and withdrawal services for some top crypto including BTC, ETH, USDT, USDC, and others from tomorrow. After a week of closure due to a nearly $70 million hack, CoinEx has finally decided to open withdrawals for only some cryptocurrencies and promises to reintroduce more assets to deposit and withdrawal services.

CoinEx Restarts Deposits and Withdrawal Services

CoinEx in an official announcement on September 20 revealed the resumption of deposit and withdrawal services. However, the crypto exchange is only resuming services for some crypto. It includes BTC, ETH, USDT (ERC20), USDT (TRC20), USDC (ERC20), TRX, LTC, BCH, BNB, DOGE, and SHIB.

Users can start making deposits and withdrawals for these crypto from September 21 at 08:00 UTC. CoinEx warns users to avoid using old addresses because crypto assets may get lost. The exchange will generate new deposit addresses for these assets.

“Given the anticipated increase in withdrawal requests in the upcoming days, there might be some delays in processing. As we ascertain system stability, we’ll progressively reintroduce more assets to our deposit & withdrawal services. Please stay tuned for our official updates.”

CoinEx promises that the new wallet system is stable, and it will gradually resume deposit and withdrawal services for more crypto assets. The exchange suffered a $70 million loss in a hack due to compromised hot wallet private keys.

Read More: CoinEx Faces $27.8 M Attack; ETH, TRON And Polygon Compromised

Bitcoin, ETH, SHIB, DOGE Withdrawal Requests

CoinEx witnessed a rise in withdrawal requests for top crypto such as Bitcoin, Ethereum, Shiba Inu, and Dogecoin. Despite XRP recording more trading volume in the last few weeks, the exchange is not starting deposits and withdrawals for XRP.

Kaiko recently reported a significant rise in XRP liquidity after July’s court ruling in the Ripple vs SEC lawsuit. Moreover, the market depth has increased from $8 million in June to $12 million in September.

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Varinder has 10 years of experience in the Fintech sector, with over 5 years dedicated to blockchain, crypto, and Web3 developments. Being a technology enthusiast and analytical thinker, he has shared his knowledge of disruptive technologies in over 5000+ news, articles, and papers. With CoinGape Media, Varinder believes in the huge potential of these innovative future technologies. He is currently covering all the latest updates and developments in the crypto industry.

The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.


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