Coinbene hacked? Community reacts following wallet downtime maintanance

27 Mar, 2019
Coinbene hacked? Community reacts following wallet downtime maintanance

The crypto community has questioned the legitimacy of crypto exchange Coinbene’s recent wallet maintenance after seeing huge amounts of funds being withdrawn from the exchange

Coinbene recently went into wallet maintenance and experienced some issues with the upgrade, effectively halting all withdrawals and deposits. The community did not take long to recognize the signs of a hacked exchange. Although Coinbene have continued on as if nothing has happened, even posting on social media about unrelated business matters.

The exchange replied to one user who questioned if the exchange was hacked, by stating that the upgrade would be resolved at 15:00 on March 27. There is no clear indication from the exchange that a hack has occurred, but rather simply just exchange maintenance.

Users noted that large sums of coins were being moved out of a local Coinbene ethereum address, however this simply looks like Coinbene moving funds between two of their wallets.

Speculation could be high simply because of the recent news that DragonEx has been hacked this week. The Singaporean exchange announced it had been affected by a admins, stating "Part of the assets were retrieved back, and we will do our best to retrieve back the rest of stolen assets. Several Judicial administrations were informed about this cyber crime case including Estonia, Thailand, Singapore, Hong Kong etc. and we’re assisting policemen to do investigation. All platform services will be closed and the accurate assets loss recovery situation will be announced in a week."

DragonEx becomes the second major cryptocurrency hack this year following New Zealand exchange Cryptopia. Perhaps the recent hack of these two exchanges simply has the community on high alert. Coinbene continue to operate as normal.

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Just maintenance or hack?

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