$150 000 USD

MAY 2020




"The LMEX Stock Exchange's community issued a notice on the adjustment of exchange operations, stating that the platform was hacked and stolen and lost 150,000 USDT, which caused the platform to have a low debt. The deposit and withdrawal have been closed."


"[P]artners of the community. [F]irst of all, [we wish to] thank the community users for their company and support and the rapid development of the platform[.] It's far beyond the platform plan. [I]t's beyond the load of the platform system."


"[Y]esterday's online trading was right. It should have been the most anticipated day for the platform and everyone, but the plan can't keep up with the change[.]" "[Y]esterday opened the transaction, and a large number of members swarmed in to log in, which led to serious app jam. At the same time, hackers also carried out intrusion and attack on the system." "[D]ue to the large amount of recharge and withdrawal, [the] platform [went] offline[.] [Deposit] and withdrawal failed to arrive in time."


"At present, the platform database has produced a lot of LB holes. at present, we are checking and repairing the data." "Yesterday, the platform hackers invaded and stolen usdt. [T]he verification is about 150000 usdt, with the largest single currency of 52000 usdt." "At present, the platform market panic is serious. [T]he platform is not low in debt."


"It takes about five days for the platform to repair and verify the data. [A]fter the verification of the platform is completed, Public release of processing results and next step plan. During the current period, the platform is closed."

Although there is very limited information to be found on this case, it appears that the LMEX exchange had a vulnerability which allowed attackers to remove the funds.


After losing $150k USD, the platform shut down and declared themselves insolvent.


The platform appears to be being run by an anonymous team. They do not appear to have properly secured the assets, and it rather appears that all funds are in hot wallets.


Check Our Framework For Safe Secure Exchange Platforms

Sources And Further Reading

 For questions or enquiries, email info@quadrigainitiative.com.

Get Social

  • email
  • reddit
  • telegram
  • Twitter

© 2021 Quadriga Initiative. Your use of this site/service accepts the Terms of Use and Privacy Policy. This site is not associated with Ernst & Young, Miller Thompson, or the Official Committee of Affected Users. Hosted in Canada by HosterBox.