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Hackers steal £163m in attack on crypto firm Mixin

Written by Thu 28 Sep 2023

Hackers have attacked crypto company Mixin, leading to £163 million ($200 million) being stolen.

The Hong Kong-based crypto company stated an attack targeted Mixin Network’s cloud service provider, leading to the loss of some assets.

“Deposit and withdrawal services on Mixin Network has been temporarily suspended. After discussion and consensus among all nodes, these services will be reopened once the vulnerabilities are confirmed and fixed,” said the company on X (formerly Twitter).

Mixin is a decentralised exchange and cross-chain network. The company allows users to transfer digital assets. Since its launch in 2017, the company has secured over £819 million ($1 billion). As of July, the company has one million users.

Mixin contacted Google and Slowmist, a cybersecurity firm to aid in the investigation.

The hack on Mixin is the biggest theft in the crypto world this year, according to figures by Rekt.

At £163 million, the hack is the tenth largest crypto hack of all time by volume of crypto stolen, according to blockchain research firm Elliptic.

Mixin founder Feng Xiaodong announced compensation of up to 50% for affected users. The company will repurchase bond tokens from profits to pay the remaining amount.

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Written by Thu 28 Sep 2023

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