Skip to main content

Mixin’s $20 Million Plea: Platform Transmits Onchain Bid to Reclaim Stolen Assets

After a cyberattack resulted in a staggering $200 million loss from the decentralized exchange (dex) platform Mixin, the company revealed that its cloud service provider had been compromised. In a bid to recover the stolen funds, Mixin is now extending a $20 million reward to the hacker upon the return of the assets. Through an onchain message on the Ethereum blockchain, Mixin clarified that the pilfered assets were the property of the dex platform’s users.

Mixin Sends Onchain Plea for Asset Recovery

Two days ago, the Mixin Network, also known as Mixin Kernel, suffered a significant breach, resulting in a loss of $200 million. The team pinpointed the network’s cloud service provider as the compromised point and has since collaborated with Google and the Slowmist blockchain security team to delve into the incident. In a strategic move, the Mixin team dispatched an onchain message to the perpetrator, proposing a reward in exchange for the return of the stolen assets.

“Most of our platform assets were users’, and we hope you can refund them,” the onchain message says. “You can keep $20M of the assets as a BUG Bunty Reward for the BUG. Contact us via bug@mixin.one for the reward details.” the Mixin developers added.

Mixin has transmitted its message twice through Ethereum’s onchain messaging system. This incident shadows Coinex’s recent hack, where the platform lost over $54 million in BTC, ETH, and TRX tokens. In a bid to recover the assets, Coinex too drafted an appeal to the hacker after the incident. Interestingly, this tactic has borne fruit for several entities, with hackers occasionally returning a portion or even the entirety of the stolen funds.

Two days ago, Justin Sun revealed that the HTX exchange fell victim to a breach, losing 5,000 ETH in the process. Sun didn’t just stop at offering a bounty for the funds’ return; he went a step further, proposing a position for the hacker as an HTX security consultant. While there have been instances of hackers heeding such pleas, more often than not, they remain unyielding, retaining the stolen crypto assets. Remarkably, Mixin’s overture marks the third such bounty offer in a mere span of three weeks.

What do you think about Mixin’s onchain plea asking the hacker to return the stolen funds? Share your thoughts and opinions about this subject in the comments section below.



from Bitcoin News https://ift.tt/S30eyEx
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

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

2021 Bitcoin Price Predictions: Analysts Forecast BTC Values Will Range Between Zero to $600K

As bitcoin has touched new price highs on Thursday nearing the $50k handle, people have been curious as to where the price will go in the future. Meanwhile, despite the gains so far, a number of luminaries, analysts, executives, and proponents from the crypto space believe the leading crypto asset will reach between $60k to six-digits this year. Mike Novogratz Predicts $100K Bitcoin: ‘Other CFOs and CEOs Are Saying, What Should We Be Doing?’ Satoshi Nakamoto’s invention has gained mass appeal in recent times as the leading digital asset bitcoin ( BTC ) has reached its highest value ever in 2021. On Thursday morning (EST), BTC spiked to an all-time high (ATH) at $48,697 per unit. Earlier in the morning at around 2 a.m., bitcoin was exchanging hands for $44,485 and saw an 8.98% increase since then. At the time of publication, at 6:30 p.m. (EST) on February 11, 2021, bitcoin (BTC) is swapping for $47,821 per coin. With BTC so close to the $50k mark, people have been forecasting ...
Post a Comment
Read more