Hong Kong-based cryptocurrency company Mixin is hacked and loses around $200 million
Mixin, a Hong Kong-based cryptocurrency startup, disclosed a breach in which hackers took around $200 million in assets.
The attack occurred in the early hours of September 23, 2023, Hong Kong time, on the database of Mixin Network’s cloud service provider. As a result, the company temporarily discontinued Mixin Network deposit and withdrawal services. The services will be reopened only after vulnerabilities have been identified and repaired.
Mixin Network is characterized as a “open and transparent decentralized ledger, booked and maintained collectively by 35 mainnet nodes.” It functions as a decentralized exchange and cross-chain network for digital asset transfers.
According to the corporation, it approached Google and the crypto security firm SlowMist for assistance with the inquiry. Mandiant, a Google-owned cyber incident response firm, has been hired to assist with the incident response.
The Mixin hack is said to be the greatest loss in the crypto world in 2023, exceeding the $197 million stolen from Euler, a crypto lending platform, in March.
Given Mixin’s decentralized design, it’s unclear how hackers were able to steal the assets after breaking into Mixin’s cloud database. Mixin has stated that a “solution” for dealing with the stolen assets will be announced at a later date.
