M2 Cryptocurrency Exchange Resolves Security Breach Involving $13.7 Million

Odaily reports that the cryptocurrency trading platform M2 has recently dealt with a security breach that took place at 15:16 UTC+8 on October 31, 2024. The breach led to a loss of funds totalling $13.7 million. M2 acted quickly to the situation at 15:32 UTC+8, resolving the issue and securing the affected customer assets. The company has assumed responsibility for the breach and any resultant financial losses, as well as reinforcing its security measures. Currently, the platform’s services have returned to normal operation.

The exchange has reiterated its dedication to uphold rigorous standards of security and regulatory adherence. M2 is in active collaboration with the pertinent legal and regulatory officials to ensure that the incident is dealt with comprehensively and correctly. In a separate revelation on November 1, 2024, blockchain detective ZachXBT reported via his individual channel that on the previous day, M2 had suffered a cyber attack, during which nearly $13 million were illicitly withdrawn from several of the platform’s on-chain hot wallets.