Hackers steal $200 million from crypto company Mixin

Hong Kong-based crypto firm Mixin introduced on Sunday that it was breached and that the hackers stole round $200 million.

“Within the early morning of September 23, 2023 Hong Kong time, the database of Mixin Community’s cloud service supplier was attacked by hackers, ensuing within the lack of some property,” the company wrote on X, previously Twitter. “Deposit and withdrawal providers on Mixin Community have been briefly suspended. After dialogue and consensus amongst all nodes, these providers might be reopened as soon as the vulnerabilities are confirmed and stuck.”

The corporate mentioned it contacted Google and crypto safety agency SlowMist to assist with the investigation.

Mixin describes its product as an “open and clear decentralized ledger, which is collectively booked and maintained by 35 mainnet nodes.” In different phrases, the Mixin Community is a decentralized alternate and cross-chain community that permits customers to switch digital property.

“We construct open supply software program that at all times places safety, privateness and decentralization first,” the corporate says on its web site, the place Mixin claims it has one million users as of July.

At this level, it’s unclear how hackers have been capable of steal the cash after hacking into Mixin’s cloud database, provided that — in concept — Mixin is decentralized.

Mixin, Google, and SlowMist didn’t instantly reply to a request for remark.

Within the announcement, Mixin additionally mentioned that it’ll announce an unspecified “resolution” to take care of the stolen property at a later date.

The hack on Mixin is the largest theft within the crypto world in 2023, according to data maintained by Rekt, a corporation that publishes an inventory of hacked crypto organizations and tasks. The earlier highest theft was that of Euler, a crypto lending platform, which experienced an attack that resulted in the loss of around $197 millions in March.