Singapore
SGP
Phemex hot-wallet attack suspends deposits and withdrawals
Phemex detected a hacker attack against its hot-wallet environment on 23 January 2025 and temporarily suspended deposits and withdrawals while isolating affected devices and rebuilding wallet services. Withdrawals were restored chain by chain over subsequent days, while independent tracking estimated more than $85 million in stolen crypto assets; trading services continued.
76
Estimated severity
76 / 100
93
Source reliability
93 / 100
Approximate Date
23/01/2025
Targeted Company
PHEMEX
Targeted Company Supply Chain Impact
Distribution & Fulfillment
Procurement & Sourcing
Production & Manufacturing
Sales (Retail & Ecommerce)
Warehousing
Service Delivery
Unrecognized Impact
Supply Chain Relations
No information
Geographic Impact
Country Targeted Company
Other Affected Countries
No other affected countries reported
Target country
Singapore
Affected countries
Singapore
Impacted regions
No information
Operational Impact
Duration
No information
Financial impact (USD M)
$85M
Impact types
Service unavailabilityService degradation
Affected sectors
Finance & Insurance
Affected departments
FinanceInformation Technology
Attack Profile
Attack types
Unauthorized access
Attributed threat actors
No information
Sources
Incident Sources
phemex.comhttps://phemex.com/announcements/phemex-hot-wallet-security-incident-update-and-timelinesecurityweek.comhttps://www.securityweek.com/hackers-drain-over-85-million-from-crypto-exchange-phemex/phemex.comhttps://phemex.com/announcements/important-notice-on-phemex-wallet-inspection-and-temporary-withdrawal-suspensioncoindesk.comhttps://www.coindesk.com/business/2025/01/23/crypto-exchange-phemex-investigating-hack-reports-as-usd29m-drained-from-hot-wallets