Hong Kong crypto firm, Mixin, has reported in a social media post on X (formerly Twitter) that hackers have stolen around $200 million from its coffers on Saturday, 23rd September.
In what researchers say is the largest crypto theft so far in 2023, the crypto firm stated that the hackers attacked the database of its network’s cloud service provider, “resulting in the loss of some assets,” and added that “the funds involved are approximately US$200 million”.
Mixin’s website states that the company is a network for transferring digital assets, and that it caters for one million users. Following the theft, the firm posted on X that it had prevented users from withdrawing their funds from the network. It added that transfers were not affected, however, and that services will resume once the vulnerabilities were fixed.
At $200 million, the hack assumes the position of the 10th largest crypto hack of all time when addressed by volume of crypto stolen according to blockchain research firm, Elliptic.
Crypto theft has steadily been on the rise. Blockchain researchers, Chainalysis, reported that last year hackers stole crypto credits worth $3.8 billion, making 2022 the worst year on record for crypto theft.
Mixin is currently working on a solution on “how to deal with the lost assets”, which the firm has since stated it will announce later.
