Hong Kong-based cryptocurrency company Mixin suffered a major security breach on September 23, 2023, that resulted in hackers stealing approximately $200 million worth of digital assets.
In an announcement on Sunday, Mixin stated that in the early morning hours, hackers were able to break into the database of their cloud service provider and make off with the funds.
As a result of the breach, Mixin has made the decision to temporarily suspend all deposit and withdrawal services on their decentralized cryptocurrency exchange and cross-chain network platform. Mixin has stated they will restore these services once vulnerabilities have been identified and fixed.
In an effort to investigate the cyber attack and theft, Mixin has contracted with Google’s cybersecurity team Mandiant as well as Chinese blockchain security firm SlowMist. Details remain unclear as to how the hackers were able to steal such a massive amount from Mixin’s purportedly decentralized and secure network.
Mixin describes itself as an open, transparent, decentralized network collectively maintained by 35 mainnet nodes. The platform enables users to easily transfer value across different blockchains and digital assets. Prior to the breach, Mixin claimed to have over one million registered users as of July 2023.
In their announcement, Mixin stated they will announce a solution at a later date to deal with the considerable amount of stolen funds, which represents the largest cryptocurrency theft so far this year. The previous record was $197 million stolen from crypto lending platform Euler in March 2023. This latest hack highlights the ongoing security risks and vulnerabilities in the cryptocurrency sector.
#Mixin #Crypto #Hack #Cybersecurity #Blockchain
