Phemex, a cryptocurrency exchange, announced that it will restore USDT and USDC withdrawal services in approximately 5 hours. This follows a temporary suspension for emergency inspections to ensure the security of their hot wallet architecture. The CEO also mentioned that other services, including MemeX, will resume during this period. The suspension was initiated after a reported theft of $70 million, which experts suspect may have been conducted by North Korean hackers. Phemex plans to introduce a compensation plan for affected users.

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PANews reported on January 24 that the CEO of crypto exchange Phemex tweeted that Phemex is expected to resume USDT and USDC withdrawal services in about 5 hours, and the current focus is to ensure the security of the hot wallet architecture. In addition, other services such as MemeX will also be resumed during the same period.
 Yesterday, Phemex suspended withdrawals for emergency inspection and planned to launch a compensation plan . Experts said that North Korean hackers may be behind the theft of $70 million from the Phemex exchange .

Phemex to Resume USDT and USDC Withdrawals After Security Inspection