Exchange record
Phemex
Centralized exchange that suffered a hot-wallet security incident in January 2025, temporarily suspended deposits and withdrawals, and later restored withdrawal services. It is modeled as active with major incident events rather than a death-side record.
Key facts
URL handling
Summary
Centralized exchange that suffered a hot-wallet security incident in January 2025, temporarily suspended deposits and withdrawals, and later restored withdrawal services. It is modeled as active with major incident events rather than a death-side record.
Timeline
Phemex detected unusual activity in its hot wallet and described the incident as a hacker attack, isolating affected devices and contacting security firms and law enforcement.
Phemex suspended deposits and withdrawals across chains as an emergency response to the hot-wallet incident, then resumed chains and assets in staged updates.
Phemex's final update stated that all withdrawal services were restored in February 2025 after the hot-wallet incident response and system security upgrades.