Hackers Steal $200M from Hong Kong-Based Mixin

Cryptocurrency firm Mixin, based in Hong Kong, became a target of a substantial security breach resulting in a loss of around $200 million.

As revealed by Mixin on Twitter, the cyberattack impacted the company’s network’s cloud service provider’s database, leading to significant asset losses. Mixin, known as a digital asset transfer network, boasts one million users.

The company, in the wake of the security violation, temporarily halted user withdrawals from the network to address and fix the discovered vulnerabilities, although it maintains that transfers are not impacted. Mixin promised to resume services once a secure environment is re-established and also plans to disclose strategies on addressing the lost assets.

This incident is particularly alarming considering the last year’s record-breaking spike in crypto thefts, totaling losses up to $3.8 billion, underscoring the increasing risks in the digital asset domain.


Information for this briefing was found via twitter and the sources mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

Baselode Energy To Acquire Forum Energy: The Merger Of Equals Deal

TriStar Gold: The Revised Castelo de Sonhos Prefeasibility Study

Gold is Up 30%, But the Real Bull Market is Only Starting Now! | Adrian Day

Recommended

ESGold To Expand Mine Building At Montauban In Advance Of Gold & Silver Production

Goliath Resources Expands 2025 Drill Program To 60,000 Metres

Related News

CoinDesk Soon to Change Hands in $125M Deal

A group of investors led by Matthew Roszak from Tally Capital and Peter Vessenes from...

Friday, July 21, 2023, 07:33:00 AM

Court Greenlights FTX’s $16.5 Billion Customer Reimbursement Plan

FTX has received court approval for its bankruptcy plan, allowing it to repay customers using...

Tuesday, October 8, 2024, 10:12:56 AM

Binance Officially Withdraws Its Services Out Of Canada

Binance, the cryptocurrency exchange that has been at the heart of numerous controversies including the...

Saturday, May 13, 2023, 07:14:00 AM

Russian Central Bank Mulls Banning Crypto Mining and Trading

The Central Bank of Russia is proposing banning cryptocurrency mining and trading in the country,...

Thursday, January 20, 2022, 03:14:00 PM

Are the Bank Failures Driving Crypto?

The recent failures of three US banks, Signature Bank, Silicon Valley Bank, and more recently,...

Wednesday, May 3, 2023, 03:55:00 PM