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Which companies just had a verified incident, who lends to them and who owns them. Every claim carries its evidence level and its source. How we decide what is confirmed

Global Financial Service Disruptions

Phemex

crypto exchange · SG · Southeast Asia · Phemex (Singapore-founded exchange)

Confirmed cyberStatus: resolvedTier 1Severity 3 of 5Evidence confidence: highAnalyst-verified

Singapore-founded exchange Phemex suspended all deposits and withdrawals on 23 Jan 2025 after hot wallets were drained across multiple chains. Withdrawals were progressively restored from 24 Jan (USDT, USDC, ETH first) with manual review; trading continued.

First disruption
Jan 23
First public signal
Jan 23 (on-chain alerts of suspicious hot wallet outflows (Cyvers, ZachXBT) then exchange post)
Acknowledged
Jan 23
Restored
Jan 24
Duration
not established
DFX first recorded
Nov 5 14:58 UTC

What was restricted

withdrawalsdepositsScope: institution wide

Platform-wide suspension of crypto deposits and withdrawals; trading continued; withdrawals restored in stages starting 24 Jan with manual review.

Financial impact: Estimates range from about 37M USD (early) to 69M to 85M USD (later); estimated, no final official figure found.

Cause, kept in separate layers

What the institution said
Unusual activity in hot wallets; deposits and withdrawals suspended; cold wallets unaffected
DFX classification
Confirmed cyber (cyber: confirmed)
Analytical hypothesis (not established)
Analysts suspect DPRK-linked actors (not confirmed by Phemex).
Wording used
unusual activity
Conflicting reports
Loss estimates vary from 37M to 85M USD.

Evidence