# XeggeX Hack and Bankruptcy: A Case Study in Crypto Challenges On 3rd February 2025, panic spread across X, Discord, Telegram, and other platforms as users reported issues with the cryptocurrency exchange XeggeX. Questions like “XeggeX has been hacked! What should we do?” flooded chat forums, echoing a familiar dilemma in the crypto world. Following XeggeX’s recent decision to declare bankruptcy and shut down operations, this article reflects on the consequences of exchange hacks for cryptocurrency projects, with a focus on the discussions within the Warthog Network Community.

## It’s Happened Before, It Will Happen Again ...