Hong Kong-based crypto company Mixin announced on Sunday that it was breached and that the hackers stole around $200 million. The hack on Mixin is the biggest theft in the crypto world in 2023, according to data maintained by Rekt, an organization that publishes a list of hacked crypto organizations and projects. Mixin has temporarily suspended its deposit and withdrawal services after cybercriminals targeted the decentralized wallet service. The company is investigating the security breach with the support of the security firm SlowMist. Mixin also said that it will announce an unspecified “solution” to deal with the stolen assets at a later date.
At this point, it’s unclear how hackers were able to steal the money after hacking into Mixin’s cloud database, given that — in theory — Mixin is decentralized. Google spokesperson Melanie Lombardi confirmed in an email to TechCrunch that “Mandiant has been engaged by Mixin in support of the incident response.” Mandiant is a cyber incident response firm that was acquired by Google last year.
The hack on Mixin has drawn controversy, with some claiming that Bitcoin stored in the Mixin protocol “should have never been stolen in the first place.” The stolen assets included $94.48 million in Ether, $23.55 million in Bitcoin, and $82.97 million in other cryptocurrencies.This incident highlights the ongoing security challenges faced by the crypto industry. As the value of cryptocurrencies continues to rise, so does the incentive for hackers to target crypto companies and exchanges. It is crucial for crypto companies to invest in robust security measures to protect their assets and their customers’ assets.
