Blockchain project Mixin Network reported the theft of $200 million in cryptocurrency

Blockchain project Mixin Network reported the theft of $200 million in cryptocurrency

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Author: Robert Strickland (crypto-journalist)
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Blockchain project Mixin Network reported the theft of $200 million in cryptocurrency

 The Mixin Network blockchain project has fallen victim to a cyberattack, resulting in the theft of approximately $200 million in cryptocurrency. Hackers targeted the database of the Japanese cloud service provider Mixin Network, managing to siphon off funds to multiple wallets.


 

The Mixin Network team has verified a report from SlowMist, a blockchain security company, regarding this $200 million hack. They announced on social media that the hackers had breached the database of the cloud service provider Mixin Network, leading to the loss of a significant portion of assets within the network.

Mixin Network is a service designed to enhance the speed and cost efficiency of cryptocurrency transfers across different blockchain networks. The project's founders or developers are not disclosed on Mixin Network's website, with the only information available stating that the service is headquartered in Tokyo. News and updates about the project are scarce and primarily localized.

As per the July monthly report, the combined value of the top 100 assets within Mixin Network is slightly over $1.1 billion. Developers reported 663,000 unique monthly Bitcoin transactions and around 180,000 Ethereum (ETH) transactions in July.

This cyberattack follows a similar incident on September 12, where cryptocurrency exchange CoinEx had $70 million stolen from its wallets. SlowMist's analysis suggested that the Lazarus Group, a North Korean hacker organization, might be responsible for the attack. The exchange later unveiled a recovery plan in response to the breach.

 

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