$200-Million Hack Forces Mixin Network to Temporarily Cease Operations

0-Million Hack Forces Mixin Network to Temporarily Cease Operations

AFP ​/ NICOLAS ASFOURI

Mixin Network, a Hong Kong-based⁤ digital ‌wallet company, suspended deposits and withdrawals after the it was attacked by hackers ⁢on Sept. 23.

“After initial verification, the funds ⁣involved are approximately US$200 million,” the company said in a statement posted Monday on X, the former Twitter.

The‌ target​ was the database of the company’s cloud⁢ service provider, Mixin said, without identifying ‌the attackers. It ⁢contacted Google and blockchain security company​ @SlowMist_Team to help in the investigation.

Mixin Network is an open-source and decentralized platform “to bring speed ‍and scalability to the ​blockchain,” according to the company’s website.

Company’s announcement

According to the website DefiLlama, which ‌tracks ⁤crypto hacks, this could be one of the​ biggest attacks this year. The losses before the Mixin hack were totaling $735 million ⁢in 2023, according‌ to DefiLlama ⁤data. Last year,⁤ hackers took more than $3.2 billion in 60⁣ hacks.

Hacking
Cybercrime

2023-09-26 18:48:03
Original from www.ibtimes.com
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