Mixin suspends deposits and withdrawals after $200m cryptocurrency heist

Posted under: Fintech
Date: 2023-09-27
Mixin suspends deposits and withdrawals after $200m cryptocurrency heist

Mixin Network confirmed on Monday that it has "temporarily suspended" all deposit and withdrawal services after hackers broke into a database and stole about $200 million in funds from the Hong Kong-based cryptocurrency firm. The attack occurred when the cloud service provider was breached. Mixin is collaborating with Google and SlowMist for investigation and incident response. They plan to reopen services after fixing vulnerabilities and will announce a solution for the lost assets. A week before, Elliptic had blamed North Korea's Lazarus Group for the $54 million CoinEx heist against another Hong Kong exchange earlier this month. Over the previous 104 days, the criminals stole almost $240 million from five separate hacks. The incident underscores vulnerabilities in open-source banking. It follows recent cryptocurrency heists, including a $54 million attack by North Korea's Lazarus Group on CoinEx. The FBI warned about the group liquidating stolen Bitcoin worth over $40 million.

Read more at: www.theregister.com