Hack history / 2025 / Hack or exploit
Phemex
Hack or exploit on Jan 23, 2025 · Hot Wallet Key Compromised
SOURCES AGREE ON DATE AND LOSS · 4 SOURCES
Lost
$70M
sources: $70M to $85M
Returned
none listed
as the sources state it
Rank
#82
among thefts by dollars lost
What happened
On January 23, 2025, Singapore-based exchange Phemex's hot wallets were drained across more than a dozen chains (ETH, SOL, XRP, BTC, BSC, Tron) in a coordinated attack, with reported losses ranging from $69.1M to $85M. The hot wallet private keys and signing infrastructure were compromised.
Details
- Date
- Jan 23, 2025
- Kind
- Hack or exploit
- Method
- Hot Wallet Key Compromised
- How in
- Keys, accounts and infrastructure
- Target
- Centralized exchange
- Chains
- Ethereum, Solana, XRP, Bitcoin, BNB Chain, Sui, Base, Tron, Arbitrum, Avalanche, Polygon, Optimism, zkSync Era
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Cite this page
SwanBluechip, "Phemex hack, Jan 23, 2025: $70M lost", Crypto hack history, https://swan-hack-tracker.pages.dev/history/i/htcaeb725aab/ (data as of 2026-10-31).