Cyvers Alerts, a blockchain security firm, detected suspicious withdrawals of about $29 million from Singapore-based cryptocurrency exchange Phemex's hot wallet. The company stated that there were multiple suspicious transactions in multiple altcoins and the funds were exchanged for Ethereum (ETH). Several altcoins, including SNX, LDO, ARKM, PORTAL, LADYS, and WLD, were affected by the withdrawals. Phemex confirmed the incident and reported that BTC and TRON blockchains were also impacted, with an estimated total loss of approximately $37 million. Phemex CEO Federico Variola assured that their cold wallets were safe, and further updates would be released soon.