Phemex, a cryptocurrency exchange based in Singapore, is currently investigating a security breach that led to the loss of $29 million in crypto tokens from one of its hot wallets. The stolen funds were converted into ether (ETH) and moved across various blockchains, according to reports from the crypto security firm Cyvers.

Phemex, a Singapore-based cryptocurrency exchange, is investigating a reported hack that resulted in $29 million worth of crypto tokens being drained from one of its hot wallets. The funds were exchanged for ether (ETH) across multiple blockchains, as reported by crypto security firm Cyvers.

Phemex Investigates $29 Million Crypto Hack