CoinBene Hack
USD loss unconfirmed
Not disclosed
Suspected wallet compromise; cause unconfirmed
What happened
CoinBene's March 2019 wallet movements prompted suspicions of a hack. Reporting on Elementus's analysis described roughly $105 million moving from its hot wallet on March 25, followed by transfers to other exchanges. CoinBene denied a hack and attributed its downtime to maintenance.
The transferred value should not be treated as proven net loss.
Technical root cause
The cause of the suspicious transfers remains unconfirmed.
How it happened
- Elementus reported a large hot-wallet outflow to three addresses.
- It tracked onward movement through intermediary addresses to trading platforms and considered the pattern consistent with an exchange compromise.
- CoinBene publicly denied a hack. The available accounts do not resolve that disagreement or establish an intrusion method.
Protocol details
Evidence
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