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Home»ADOPTION NEWS»Catalyx cryptocurrency exchange halts all trading after security breach
ADOPTION NEWS

Catalyx cryptocurrency exchange halts all trading after security breach

By Crypto FlexsDecember 29, 20232 Mins Read
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Catalyx cryptocurrency exchange halts all trading after security breach
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Posted 1 minute ago In ~

CataX CTS Ltd., which operates Calgary-based cryptocurrency trading platform Catalyx, said Thursday that it has suspended trading and fund withdrawals from exchanges affected by a recent security breach.

The suspension follows a trading halt order issued by the Alberta Securities Commission on December 21 against the company and its co-founder, Chairman Jae-Ho Lee.

After a security breach resulted in the loss of some cryptocurrency assets for Catalyx customers, the company began investigating suspicions that its employees were involved in the incident.

CataX did not disclose the exact amount of its losses and did not immediately respond to The Block’s email inquiry for more details.

CataX said global financial audit firm Deloitte LLP would “provide forensic and investigative services to the company” to investigate the incident. The company said in a statement that it plans to update users after Deloitte completes its investigation.


Disclaimer: The Block is an independent media outlet delivering news, research and data. As of November 2023, Foresight Ventures is a majority investor in The Block. Foresight Ventures invests in other companies in the cryptocurrency space. Cryptocurrency exchange Bitget is an anchor LP of Foresight Ventures. The Block continues to operate independently to provide objective, impactful and timely information about the cryptocurrency industry. Below are our current financial disclosures.

© 2023 The Block. All rights reserved. This article is provided for informational purposes only. It is not provided or intended to be used as legal, tax, investment, financial or other advice.

About the author

Danny Park is The Block’s East Asia reporter, writing about topics including Web3 development and cryptocurrency regulation in the region. He previously worked as a reporter for Forkast.News, where he actively covered the fall of Terra-Luna and FTX. Based in Seoul, Danny previously produced written and video content for media companies in Korea, Hong Kong and China. He holds a Bachelor’s degree in Journalism and Business Marketing from the University of Hong Kong.

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