Breaking! Xeggex Exchange Suspected of Collapse, User Assets at Zero? Dear friends, another big incident has occurred! Established in 2021, the cryptocurrency exchange Xeggex, which serves Chinese users, has been unable to log in to its website since yesterday, all tokens have been removed, and relevant information cannot be queried. A large number of users have reported on social media that their assets are at zero and their transaction records have been deleted, raising concerns that the exchange has “run away with the funds.” However, Xeggex has not yet made an official response to the matter, and it remains unclear whether the issues stem from technical failures, security vulnerabilities, or if the exchange's funds are truly in trouble. Xeggex announced that the CEO's account was hacked, resulting in the loss of the TG account and community group, but they have successfully locked the wallet to ensure fund security. Due to the disconnection from the database and network, the login issue still persists. However, cryptocurrency media BlockTempo analyzed that Xeggex seems to be in a crisis, with multiple users commenting under the official pinned post that they are unable to log into the platform, and the platform has removed all tokens, exacerbating market concerns. As if that weren't enough, the cryptocurrency market faced a bloodbath yesterday, with Bitcoin once dropping below the $100,000 mark, causing over 420,000 people to be liquidated, totaling more than $1 billion. This market turmoil could lead to a large number of users rushing to withdraw from Xeggex, triggering a bank run crisis. If the platform cannot quickly return to normal operations, it is highly likely that it has run away. This serves as a reminder to all investors that the cryptocurrency market is extremely risky, and small exchanges can run away at any time; it is wise to choose safe large exchanges.
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