Hong Kong-based Mixin
Network, a blockchain protocol aiming to tackle scalability challenges, has
fallen victim to a massive cyberattack resulting in losses nearing $200
million. The cyber heist, which is considered the largest of its kind this
year, has sent shockwaves through the crypto space, raising significant
concerns about the security of digital assets.
Mixin, which
facilitates transfer of digital assets, was compromised when hackers targeted
its network’s cloud service provider. This attack resulted in a loss of
approximately $200 million worth of cryptocurrency. Mixin reported the breach
on X (formerly known as Twitter), stating that user withdrawals were
temporarily halted to contain the situation.
[Announcement] In the early morning of September 23, 2023 Hong Kong time, the database of Mixin Network’s cloud service provider was attacked by hackers, resulting in the loss of some assets on the mainnet. We have contacted Google and blockchain security company @SlowMist_Team…
— Mixin Kernel (@MixinKernel) September 25, 2023
According to the
company’s statement, the breach occurred in the early hours of September 23,
targeted Mixin Network’s cloud service provider’s database. This led to a
substantial asset losses on the mainnet .
Based in Hong Kong,
Mixin has a user base of one million individuals who utilize its services for
swift and secure digital asset transfers. As of July, Mixin had a…
