Canadian cryptocurrency exchange Catalyx has temporarily stopped all withdrawals and trading on its platform following a "security breach," which the company suspects may involve one of its employees. In a statement issued on December 28, Catalyx revealed that the breach might have led to the loss of some crypto assets held for its clients.
The specifics of the lost crypto assets were not disclosed by Catalyx. As a result of the breach, the platform has halted all cryptocurrency and fiat currency withdrawals, along with suspending all trading activities. The Alberta Securities Commission intervened on December 21, ordering the platform to halt all trading and initiating an investigation into the exchange concerning the security incident.
To address and investigate the issue, Catalyx has engaged Deloitte, a consulting firm, to assist in uncovering the details of the incident. Meanwhile, the Catalyx website is displaying a notice informing users about the ongoing "technical difficulties," and promises to update them once normal services resume. Catalyx, based in Calgary and established in 2018 by CEO Jae Ho Lee, operates as a registered entity under the Financial Transactions and Reports Analysis Center of Canada (FINTRAC).
During the peak of the crypto market boom in May 2021, Catalyx experienced a significant surge in trading volume, reaching $28 million monthly, which marked a 73% increase from the previous month. This was highlighted in a statement on June 21. However, as of now, there is no publicly available data on the exchange’s reserves or trading volume on any major cryptocurrency data aggregator platforms.
