Phemex Crypto Exchange Suffers $85 Million Hot Wallet Breach
The Phemex cryptocurrency exchange experienced a significant security breach on January 23, 2025, at 11:30 UTC. Threat actors stole over $85 million worth of cryptocurrency from the platform's hot wallets. Phemex detected unusual activity and immediately suspended deposits and withdrawals, activating its emergency response mechanism. The incident was attributed to a sophisticated access control exploit, with funds manually drained across multiple blockchains and quickly swapped for other assets to bypass blacklisting.
Signal context
First seen: Jan 23, 2025
Last updated: Jul 1, 2026
Status: Public signal
Key points
- Security breach detected on January 23, 2025, at 11:30 UTC.
- Over $85 million in cryptocurrency stolen from hot wallets.
- Deposits and withdrawals immediately suspended.
Signal analysis
BetaThis analysis groups the signal by industry, likely incident action and impacted security area. It helps compare this signal with other published signals without treating the labels as final determinations.
Sector: Information
Likely country: Location not provided
Watch internet-facing systems, credential abuse and exploit activity.
- Source type: outside the affected organization
Impact area: Confidentiality
- 22 signals in the same sector
- 88 signals with the same likely impact area
- 1 signal linked to this organization/domain
External sources
Hackers steal $85 million worth of cryptocurrency from Phemex - Bleeping Computerhttps://www.bleepingcomputer.com/news/security/hackers-steal-85-million-worth-of-cryptocurrency-from-phemex/Public source from bleepingcomputer.com.
January 2025 Data Breaches [LIST] - Pomeriumhttps://www.pomerium.com/blog/january-2025-data-breaches-listPublic source from pomerium.com.
Explained: The Phemex Hack (January 2025) - Halbornhttps://www.halborn.com/blog/explained-the-phemex-hack-january-2025Public source from halborn.com.
Phemex Exchange Loses Over $30M Due Access Control Attack | CER.live Bloghttps://cer.live/blog/phemex-exchange-hack-jan2025Public source from cer.live.
Hackers Drain Over $85 Million From Crypto Exchange Phemex - SecurityWeekhttps://www.securityweek.com/hackers-drain-over-85-million-from-crypto-exchange-phemex/Public source from securityweek.com.
Related signals
Grouped by why the signal is relevant.
NIFTY Corporation Affected by KDDI Corporation Data Breach
NIFTY Corporation, a Japanese internet service provider, was impacted by a data breach originating from an email system provided by KDDI Corporation. Threat actors gained unauthorized access to this shared system by exploiting a vulnerability in third-party software. This led to the potential exposure of up to 14.2 million email addresses and passwords across all affected ISPs. NIFTY Corporation customers' email addresses and passwords may have been compromised.
BIGLOBE Inc. Affected by KDDI Corporation Data Breach
BIGLOBE Inc., a Japanese internet service provider, was impacted by a data breach originating from an email system provided by KDDI Corporation. Threat actors gained unauthorized access to this shared system by exploiting a vulnerability in third-party software. This led to the potential exposure of up to 14.2 million email addresses and passwords across all affected ISPs. BIGLOBE Inc. customers' email addresses and passwords may have been compromised.
JCOM Co., Ltd. Affected by KDDI Corporation Data Breach
JCOM Co., Ltd., a Japanese internet service provider, was impacted by a data breach originating from an email system provided by KDDI Corporation. Threat actors gained unauthorized access to this shared system by exploiting a vulnerability in third-party software. This led to the potential exposure of up to 14.2 million email addresses and passwords across all affected ISPs. JCOM customers' email addresses and passwords may have been compromised.
STNet, Inc. Affected by KDDI Corporation Data Breach
STNet, Inc., a Japanese internet service provider, was impacted by a data breach originating from an email system provided by KDDI Corporation. Threat actors gained unauthorized access to this shared system by exploiting a vulnerability in third-party software. This led to the potential exposure of up to 14.2 million email addresses and passwords across all affected ISPs. STNet customers' email addresses and passwords may have been compromised.
Chubu Telecommunications C., Inc. Affected by KDDI Corporation Data Breach
Chubu Telecommunications C., Inc., a Japanese internet service provider, was impacted by a data breach originating from an email system provided by KDDI Corporation. Threat actors gained unauthorized access to this shared system by exploiting a vulnerability in third-party software. This led to the potential exposure of up to 14.2 million email addresses and passwords across all affected ISPs. Chubu Telecommunications customers' email addresses and passwords may have been compromised.
KDDI Web Communications Customer Data Affected by KDDI Email System Breach
KDDI Web Communications, a subsidiary of KDDI, was impacted by the data breach in KDDI Corporation's email system, disclosed on June 28, 2026. The incident, caused by a third-party software vulnerability, led to the potential exposure of up to 14.2 million email addresses and passwords belonging to customers across six Japanese ISPs, including KDDI Web Communications.