Mixin Network was hacked for $200 million

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hack_b-min (1)

On September 23, an unknown person hacked the cloud service provider Mixin Network and withdrew about $200 million in digital assets.

Following the report from Slow Mist analysts, protocol representatives also confirmed the incident.

According to the statement, the network’s database was exploited. The developers have temporarily suspended deposits and withdrawals of funds.

Mixin Network is a peer-to-peer cryptocurrency trading network designed to scale and speed up transactions. The protocol supports Bitcoin, Ethereum and several other popular coins.

The protocol’s 100 largest network assets are worth just over $1.1 billion, according to a July report.

Mixin founder Feng Xiaodong will discuss the incident live on the evening of September 25 while the project team investigates.

“Find the error: the decentralized network database was hacked,” wrote one user X.

Let us recall that in September, the DeFi project Linear Finance announced an attack, as a result of which it lost all liquidity in the stablecoin ℓUSD on the PancakeSwap and Ascendex platforms.

Previously, the Balancer protocol reported that the frontend had been hacked. Damage is believed to be approximately $238,000.

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