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Blockchain security firm, Peckshield has flagged suspicious activity on a wallet owned by centralized cryptocurrency exchange Poloniex suggesting alleged losses of over $60 million.

The company has not disclosed the actual amount that was stolen but on-chain data outflows to the receiving wallet places the figure around $60 million.

Following the disclosure of the hack, the company’s Customer Support announced on X (Twitter) that the wallet has been disabled in the meantime and new facts will be added to that thread.

Acquired by Justin Sun in 2019, its management team has hailed its financial position and security in the wake of recent collapses. Sun, acknowledging the incident, said on X that the company will conduct an investigation and reimburse affected users.

We are currently investigating the Poloniex hack incident. Poloniex maintains a healthy financial position and will fully reimburse the affected funds. Additionally, we are exploring opportunities for collaboration with other exchanges to facilitate the recovery of these funds.”

The recent incident has sparked renewed concerns on crypto platforms facing hacks in recent weeks with most crypto users calling the event unfortunate asking for a thorough investigation and full disclosure of facts afterward.

This is a developing story.

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