PANews reported on November 1 that the crypto exchange M2 officially released a security update this morning, saying that at 3:16 am on October 31 (GMT+4), M2 encountered a cybersecurity incident worth $13.7 million, and the team responded quickly 16 minutes later. M2 said that the incident has been completely resolved, customer funds have been restored, and it promised to bear all potential losses. At present, all services on the platform have been fully restored, and additional security control measures have been implemented. M2 is actively cooperating with relevant legal and regulatory agencies to ensure that this incident is thoroughly handled.