Hackers Target XT.com, Steal $1M in USDT

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by Giorgi Kostiuk

2 years ago

Today, the XT.com exchange reported an unauthorized transfer of nearly $1M USDT from its wallet. User funds remain secure.

Incident Details

The Seychelles-based exchange announced a temporary suspension of all operations, including user withdrawals. XT.com emphasized that hackers targeted only the exchange's assets, leaving user funds untouched.

Security Measures

To prevent similar incidents from occurring, XT.com implemented several countermeasures, including a Merkle Tree-based Asset Proof System scheduled for mid-December. The exchange confirmed it holds reserves 1.5 times greater than user assets.

All will be back to normal soon.

Implications of the Attack

The incident at XT.com adds to a series of attacks on centralized exchanges this year, with significant incidents including BingX's $43M loss and Indodax's $22M theft.

Despite the incident at XT.com, the exchange continues to take measures to secure user funds. Additional security enhancements are expected in the future.

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