Exchange record
Phemex
Centralized cryptocurrency exchange launched on November 25, 2019. Phemex suffered a hot-wallet security incident in January 2025, temporarily suspended deposits and withdrawals, restored withdrawal services in stages, and continued operating afterward.
Key facts
URL handling
Summary
Centralized cryptocurrency exchange launched on November 25, 2019. Phemex suffered a hot-wallet security incident in January 2025, temporarily suspended deposits and withdrawals, restored withdrawal services in stages, and continued operating afterward.
Timeline
Phemex announced that its main trading platform went live on November 25, 2019 following a public testnet period.
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.