Alisa Davidson
Published: February 04, 2025 at 8:15 am Updated: February 04, 2025 at 8:15 am
Edited and fact-checked:
February 04, 2025 at 8:15 am
In Brief
XeggeX CEO’s Telegram account was hacked, the platform’s wallets were locked for security, and the database was disconnected, preventing logins due to the potential hack, which sparked fears of a possible “rug pull” within the community.
Cryptocurrency exchange XeggeX revealed that its CEO’s account was compromised, leading to a loss of access to both the platform’s account on the messaging application Telegram and the exchange’s community group.
The platform has also locked down its wallets to ensure funds remain safe. However, as of yesterday login issues persisted as the exchange has disconnected its database from the network. XeggeX has promised to investigate the situation further.
The exchange has been facing challenges, with users reporting sudden login failures and disappearing asset balances. Many are expressing concerns that the platform may have been the victim of a “rug pull.”
XeggeX Reassures Users Of Fund Security, But Its Platform Undergoes ‘Unplanned Maintenance’
In a later announcement, the platform thanked its users and stated that the development team is actively working to restore all services. Once these tasks are completed, a detailed update and explanation of the situation will be provided.
The exchange emphasized that the most important thing is that funds are secure and advised users not to join any Telegram groups, urging them to only follow official updates from the platform’s website and its account on the social media platform X.
Simultaneously, cryptocurrency risk data analysis firm Bitrace has published an announcement stating that it is monitoring the funds at XeggeX’s business address and has not observed any abnormal fund activities at this time.
However, the situation remains unclear. Currently, the platform’s website is showing that it is undergoing unplanned maintenance.
XeggeX is a centralized cryptocurrency exchange founded in 2021. The platform operates on high-speed servers and offers robust DDoS mitigation to ensure security and maintain uptime stability. It claims to prioritize security with features such as cold storage, two-factor authentication, live backups, and encrypted wallets, among other protective measures. According to the cryptocurrency data aggregator CoinGecko, the platform currently holds a trust score of 7/10.
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About The Author
Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
More articles
Alisa Davidson
Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
More articles
