XT.com Suspends Withdrawals After $1.7mn Crypto Hack

XT.com, a cryptocurrency exchange with daily trading volumes of $3.4 billion, has suspended withdrawals following a suspected $1.7 million hack. On Nov. 28, the exchange cited “wallet upgrade and maintenance” as the reason for suspending withdrawals. Shortly after the announcement, blockchain security firm PeckShield reported that XT.com “appeared to have been hacked” for $1.7 million in cryptocurrency. Platform Response XT.com later acknowledged the issue, stating there had been an “abnormal transfer of platform wallet assets.” “Rest assured, this will not affect our users,” the exchange assured, adding that it “always maintains reserves 1.5x greater than user assets to ensure maximum