Hacker Stole $200 Million in Cryptocurrency from Mixin Network

On September 23, 2023, early within the morning, the Hong Kong Conditions reported that hackers centered Mixin Network’s cloud service provider, ensuing in mainnet losses.

Mixin Network became as soon as launched in 2017 and gives lightning-rapid sight-to-sight digital asset transactions, securing over $1B in payment.

For now, the Mixin Network has already suspended the deposit and withdrawal products and companies post-assault, with reported losses of $200 million. Nonetheless, the Mixin Network seeks support from Google and security company SlowMist for the investigation.

Along with this, the products and companies will resume after the node consensus and vulnerability fixes. However, the transfers will stay unaffected.

Despite Hong Kong’s efforts, it’s the second important crypto hack this month. Mixin will indicate the asset recovery conception later, with founder Feng Xiaodong addressing the incident in a public livestream on September 25, 2023, at 13:00 HKT.

Feng Xiaodong, Mixin founder, announced compensation of as a lot as 50% for affected users, with the comfort paid in bond tokens repurchased from company profits.

Here is what he talked about next:

“We are able to summarize the roar material in English in a while for easy reference. We are able to strive our most attention-grabbing to diminish the losses and deeply order regret for this. Thanks, all people, in your continuous toughen.”

Closing 365 days, it’s been reported that hackers swiped over $3.8 billion in cryptocurrencies, with North Korea-linked actors accountable for $1.7 billion.

Furthermore, Hong Kong has rolled out crypto guidelines to change into a global hub, with ideas efficient since June 1 permitting licensed platforms to abet retail traders.