UK Crypto Exchange EXMO Says $4M of Hacked Funds Was Through Poloniex

Dec 25, 2020 at 4:59 p.m. UTC

Cryptocurrency exchange EXMO said an estimated $4 million of the cryptocurrency stolen during a hack on Dec. 21 was through the exchange Poloniex.

The U.K.-based platform has estimated that a total of 6% of its cryptocurrency has been lost to the attack with an estimated $4 million being withdrawn through Poloniex. The dollar figure of what was lost overall in the hack wasn’t immediately known.
The exchange said assets cannot be recovered by EXMO due to criminals withdrawing the funds through Poloniex
“$1 million in ZEC [zcash] stolen from EXMO have been withdrawn through the Poloniex crypto exchange,” an EXMO spokesperson told CoinDesk Friday.
On the day of the attack, EXMO said it had contacted cryptocurrency exchange Poloniex with a request to block an associated account and informed London police about the breach.
EXMO reported losses in six of the 57 cryptocurrencies it supports: ethereum classic. Each digital asset is hosted on its own server, the firm said.
The platform said it hopes to soon be able to fully reinstate withdrawals and deposit functions on its exchange which has resumed most of its work.
“We are making some final preparations and checks at the moment before enabling depositing and withdrawing on EXMO. It will soon be ready,” said the EXMO spokesperson.
EXMO stressed that those users affected by the incident will be covered by the exchange.
Poloniex did not immediately respond to a request for comment.