APIA, SAMOA, January 23 – Phemex is currently investigating a report involving one of its hot wallets used in daily operations. As part of the platform’s commitment to user security, withdrawals have been temporarily suspended to allow for thorough screening and enhanced wallet security measures.
It is important to stress that Phemex cold wallets remain completely secure and unaffected. Cold wallets, which hold the majority of users’ funds, are transparent and verifiable. Users can independently confirm their status at:
The impact is limited and the systems remain safe. Trading services continue without interruption, and core trading operations remain unaffected.
As a leading cryptocurrency exchange, Phemex has consistently demonstrated its commitment to security and transparency. By being the first to deploy both proof-of-stakes and proof-of-stakes through a self-pioneering approach, Phemex has solidified its reputation as one of the most secure and trustworthy platforms in the industry.
The temporary suspension of withdrawals is a precautionary measure to ensure the continued safety of user funds. The withdrawal will be reinstated immediately after the investigation is completed and all necessary security improvements are implemented.
To further address any inconvenience caused, Phemex is preparing a compensation plan, which will be announced soon.
Phemex remains steadfast in its mission to provide a smooth, secure and reliable trading environment. Additional updates will be shared via official communication channels as the situation evolves.
For more updates and information, please visit:
About phemex
Phemex is a leading cryptocurrency exchange specializing in space and derivatives trading. It features 350+ contract trading pairs made in USDT with up to 100x leverage supporting all hedging mode, along with 400+ popular trading pairs. Individuals from all over the world can buy, sell and trade cryptocurrency instantly through an easy-to-use and secure platform.
Phemex Preserves has released Proof-of-tree so that all users can verify on the blockchain that all funds are 100% backed on the platform. As the first exchange to deploy both Proof of Proof and Proof of Solidity through a unique approach, Phemex stands out as one of the best and most trustworthy crypto exchanges.
This story was distributed as a release by BTCWIRE under Hackernoon’s business blogging program. Learn more about the program
