AlphaEx: Update on the suspension of Trading, Deposits, Withdrawals.

Dear User,

We sincerely apologize for the inconvenience caused by the suspension of swap, trading, deposit, and withdrawal of digital assets on AlphaEx. Ever since the said suspension on December 3, 2020, we have been working diligently to resolve the matters of concern relating to the compromised XDC — XDCe swap-wallet.

At AlphaEx, we place the highest priority on addressing users’ feedback and concerns and would like to inform you about the progress, questions, and status of the situation as follows:

(1) Why is Trading, Withdrawal, and SWAP (XDC: XDCe) Suspended?

On 3rd December 2020, at 12 noon GMT, one of the AlphaEx swap hot wallets (XDC — XDCe) was compromised. (More Detail)

Presently, AlphaEx is auditing various accounts and has suspended swaps to XDC (from XDCe), deposits, withdrawals for all the accounts.

After December 15, 2020 (8:00 UTC), all the accounts holding XDCe prior to the compromising incident would be able to SWAP out at a 1:1 ratio. That apart, the rest of the fund is 100% safe and available for withdrawal from December 15, 2020.

We advise all users to protect their funds under custodians like Copper or OnChainCustodian (XDC support coming soon), as well as in hot wallets like GUARDA. Furthermore, we urge them to store their private keys at a safe place.

(2) When will Withdrawal, SWAP (XDC: XDCe), OTC, and Trading be resumed?

AlphaEx holds most of the funds in the cold wallet including other crypto custody, and is happy to inform that those wallets are safe.

The compromise was related to funds in the hot wallet, while the rest of the funds will be available for withdrawal from December 15, 2020, 8:00 (UTC) onwards. We assure our users that 100% of their funds (holding before the compromised event) can be swapped or withdrawn after withdrawals have been resumed on AlphaEx.

OTC Activities resume from 8:00 (UTC), December 15, 2020

Other Trading Activities will be suspended until further notice.

We request the community to stand by our side and support us while we work with the XDC network team, other partners, and exchange teams to securely restore activities on our platform.

(3) What about XDCe purchases between compromise and announcement time?

AlphaEx respects the trading community’s support and these matters regarding how to compensate for such users is already under discussion. We sincerely appreciate your patience until further notice.

(4) Delay in Support ticket Response

Considering the top priority being assigned to the aforementioned restoration, please note that there might be delays in response to ordinary support tickets pending with AlphaEx. We sincerely apologize for any inconvenience caused as a consequence.

To conclude, we would like to reiterate our deepest gratitude for your unwavering support and encouragement.

Team AlphaEx



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