There was a place at our code which missed an addition database integrity check. So when the load went high, it was unable to update the database properly and this led to a bug where one could cancel his order multiple times and get BTCs refunded to his account multiple times. So that thief occasionally discovered this and used it to generate a big fake BTC balance which allowed him to withdraw all the BTC in the exchange's wallet and also to buy up alot of other coins. So he withdrew 22.5 BTC and bought up around 40BTC worth of other coins. Still investigating how much of those he was able to withdraw. This takes alot of work to reapply all trades on all user balances to verify balances integrity.

I am working hard on it and will get trade engine back online as soon as I verify that all the balances are correct. This is likely to happen today. On the other side, withdrawals are still suspended since exchange wallet is mostly empty anyway.
We've raised around 4BTC in donations and I go all in with my 7BTC which I was able to gather selling my holds. That amount is still way less than sum of exchange accounts balances so enabling withdrawals right now will lead to getting it empty quite fast. I'm going to re-enable withdrawals at a point where we will run less than 25% BTCs short guessing that some people won't withdraw their coins right away.

I will keep you posted on the status of all this. There is also a twitter account @coinexpw where I post updates and link to posts in this thread to keep people up to speed in this situation.

Sincerely yours,
- erundook