According to news on January 24, the CEO of cryptocurrency exchange Phemex posted on x that the withdrawal function of USDT and USDC is expected to be restored in 6 hours. The platform said ensuring the security of the hot wallet architecture remains a top priority. At the same time, other services such as MemeX will also be restored during the same period. According to previous news, Phemex’s stolen assets may exceed US$29 million.