Catalyx Platform Encountered Problems due to Security Holes

The Catalyx exchange encountered a problem due to a security vulnerability, which resulted in the loss of a number of customers' assets when stored on the floor.

Catalyx Platform Encountered Problems Due To Security Holes_65b97dd9e8534.webp

Catalyx platform encountered problems due to security holes

Catalyx, the company behind the Canadian cryptocurrency exchange, has just announced a freeze on all trading activities along with deposit and withdrawal features due to the discovery of a security vulnerability earlier this month.

catalyx platform encountered problems due to security holes 65b97dd9eae14

After a preliminary investigation, Catalyx discovered that this incident was related to an employee of the company, however, there is still no specific information about the extent of damage or the amount of money lost by customers row.

Last week, local authorities ordered Catalyx to suspend all cryptocurrency trading to support an independent investigation into the company. CEO Jae Ho Lee immediately complied with a 15-day freeze from the Alberta Securities Commission until January 5, 2024.

During this period, global financial auditing firm Deloitte LLP will assist Catalyx in evaluating and investigating the incident.

Related: Thunder Terminal Hacked – Attacker Provocative

Catalyx, headquartered in Calgary and founded in 2018 under the leadership of CEO Jae Ho Lee, is registered with Canada’s national financial intelligence agency FINTRAC.

During its peak in May 2021, Catalyx boasted a monthly trading volume of 28 million USD, marking a significant growth of 73% compared to the previous month.

(100 votes)

5.0/5

(100 votes)

Latest

Trump Memecoin Faces 50% Token Unlock, Investors Fear Major Sell Off

News | Editor Choice | Memecoin

Trump Memecoin Faces 50% Token Unlock, Investors Fear Major Sell-Off

TRUMP memecoin is about to undergo its largest-ever token unlock, with 50% of its supply set to be released — raising fears of a potential sell-off as the market remains in a fragile state.

Coinbase Rejects Claims Attacking Binance

Policy & Regulations | Editor Choice

Coinbase Rejects Claims Attacking Binance

Coinbase's legal director has clarified that they are not involved in the recent attacks on the Binance exchange.

Xrp Surges Past $3 As South Korean Retail Demand Drives Rally

News | Altcoin | Editor Choice

XRP Surges Past $3 as South Korean Retail Demand Drives Rally

XRP has recently surged past the $3 mark, driven by strong buying pressure from South Korean investors, with the Upbit exchange playing a central role in this sharp price increase.

Germany And The Us Missed Billions By Selling Btc Too Early

News

Germany and the U.S. Missed Billions by Selling BTC Too Early

Bitcoin's price has continuously set new all-time highs and is currently trading around $120,000. This significant increase has caused many countries to lose billions of dollars, particularly Germany and the United States.

Mexc Faces Criticism Over Account Freezes And Withdrawal Delays

News | Editor Choice | Policy & Regulations

MEXC Faces Criticism Over Account Freezes and Withdrawal Delays

Global cryptocurrency exchange MEXC is facing mounting backlash as more users report arbitrary account freezes and prolonged withdrawal delays.