Skip to main content

Crypto Exchange Liquid Hacked, Loses Millions in Various Currencies

Crypto Exchange Liquid Hacked, Loses Millions in Various Currencies

Japanese cryptocurrency exchange Liquid is suspending deposits and withdrawals after a security breach resulting in the loss of around an estimated $80 million in digital assets. The platform published the suspected hacker’s addresses and said it’s moving funds to cold storage.

Hacker Hits Japanese Crypto Exchange Liquid

Asian cryptocurrency exchange Liquid Global has confirmed it has been targeted in a hacking attack. In a notice tweeted early on Thursday, the coin trading platform revealed that some of its warm wallets were compromised, adding that it’s currently investigating the incident.

Liquid, which operates under a license from Japan’s Financial Services Agency, informed users it’s suspending deposits and withdrawals and promised further updates. The exchange also said it’s moving crypto assets to cold wallets.

The trading platform later published four addresses, in BTC, ETH, TRX, and XRP, believed to be in the control of the hacker. It did not provide an estimate on the value of the stolen crypto but initial reports have suggested the total amounted to around $80 million in the hours prior to the announcement.

In a follow-up tweet, Liquid said it’s working with other cryptocurrency exchanges to freeze and recover the digital funds. Kucoin blacklisted the hacker’s addresses after their publication. Liquid Global also stated:

We will continue to work with the community to take the appropriate actions.

The Japanese platform said it’s continuing to trace the movement of the misappropriated assets, noting that the hacker deposited XRP via another exchange and withdrew BTC to two other addresses. In subsequent updates, Liquid expanded the list of tracked crypto addresses and transactions.

This isn’t the first time Liquid has been compromised. In November 2020, the exchange admitted to a user data leak. In an announcement, the company insisted it had contained the attack, assuring clients that funds were “safe and secure.” It also emphasized it had performed a “comprehensive review” of its infrastructure and promised to further bolster its security.

The news of this latest attack on Liquid comes after decentralized finance (defi) project Poly Network recently lost over $600 million to a hacker. A few days later, the project’s team announced that a large portion of the funds stolen in the Aug. 10 heist had been returned by the perpetrator.

What’s your take on the latest crypto exchange hack? Share your thoughts on the subject in the comments section below.



from Bitcoin News https://ift.tt/3k9ZK0j
Labels:

Comments

Post a Comment

Popular posts from this blog

Deep Web Roundup: Dream Adds Monero and Bitcoin Tumbler “Chip Mixer” Launches

The darknet has been quiet of late, which is the way it’s meant to be. No news means no mega busts, honeypots, or mass market shutdowns. Even when it’s out of the spotlight though, the deep web is quietly making news, whether trialling the latest privacy coins or the newest coin mixers that promise to restore a little of the privacy that’s being stripped away from bitcoin users on a daily basis. Also read: U.S. Agency ICE Conducts Investigations That Exploit Blockchain Activity The Battle for Privacy Heats Up Privacy is all relative, but of late there’s been relatively little privacy to be enjoyed by bitcoin users. Blockchain monitoring software is becoming more sophisticated and more common, with U.S. law enforcement agencies using it to profile and hunt down deep web users. Chip Mixer is a relatively new bitcoin tumbler that’s designed to restore some of that privacy. Available on both the clearnet and darknet, the service uses a variety of techniques to obfuscate blockchain m
10 comments
Read more

International Crypto Exchange Luno Adds Bitcoin Cash Trading

Luno exchange has added bitcoin cash trading to the platform following feedback from its client base. BCH is now only the third cryptocurrency available for trading on the exchange, in addition to BTC and ETH , but more options could be on the way once Luno determines that they are credible enough. Also Read: Bitflyer Adds Bitcoin Cash Trading Across Europe and the US Luno Adds Bitcoin Cash Trading Luno, the London-headquartered company formerly known as Bitx, recently announced that bitcoin cash was made available on its cryptocurrency exchange. Starting from Monday, September 23, customers at Luno are now able to store, buy and sell BCH on the platform. The reason given for adding BCH to the exchange is feedback from users in developing markets that convinced Luno to expand their offering from previously just BTC and ETH . Marcus Swanepoel, CEO of Luno, said , “We are in a new and exciting financial era. Developing economies are leading the large-scale adoption and appli
Post a Comment
Read more

Ombudsman Receives Complaints About Crypto Investments in Spain

The Spanish ombudsman has been receiving complaints about cryptocurrency and how some Spanish citizens investing in these vehicles have lost everything. In his annual report, Angel Gabilondo recognized the rise of cryptocurrencies as a new problem due to the little or no regulation crypto sees in the country. In the same way, the EU has also warned about these assets recently. Spanish Ombudsman Gives His Take on Crypto Angel Gabilondo, the Spanish ombudsman, has given his take regarding cryptocurrencies and the effects they have on citizens investing in some of these projects. Gabilondo said in his yearly report that cryptocurrencies have become “a new problem” during the year examined, with many people having lost all of their funds invested. The report states : Cryptocurrency exchange companies or platforms are not regulated in the legal system, are not subject to any public supervision system, nor do they benefit from deposit guarantee systems. The affected users that sought
Post a Comment
Read more