Hong Kong Crypto Firm Suffers $200 Million Hack
In a major cybersecurity incident, crypto firm Mixin has reported a theft of approximately $200 million.
The Hong Kong-based company disclosed the attack on social media platform X, formerly known as Twitter, stating that hackers targeted the database of its network's cloud service provider.
As a result, some assets were lost in the breach. Mixin, which describes itself as a platform for transferring digital assets, has around one million users. While the firm has halted user withdrawals temporarily, it assures that transfers have not been affected. Services will resume once the vulnerabilities are addressed.
The company has pledged to announce a solution for dealing with the lost assets. This incident adds to the growing list of high-profile cryptocurrency hacks, with last year being the worst on record, seeing hackers make off with crypto worth up to $3.8 billion.
As of now, Mixin has not provided further details about the attack or the identity of the hackers. The incident highlights the ongoing challenges faced by the cryptocurrency industry in terms of security and the need for robust measures to protect user assets.
Hong Kong-based crypto firm Mixin has suffered a hack resulting in the loss of approximately $200 million.
The attack targeted the database of the company's cloud service provider.
Mixin has temporarily halted user withdrawals but assures that transfers have not been impacted.
The firm will announce a solution for addressing the lost assets.