Mixin Network, A Decentralized Network for Transferring Digital Assets, Just Announced Their Service Has Been Hacked for $200m

Specifically popular in Asian countries and based out of Hong Kong, Mixin Network is a blockchain network that leverages an encrypted messaging system to enable instant peer-to-peer transfers of cryptoassets.

The platform features an app for transferring tokens and a decentralized exchange built into the network and has the ability to support nearly all over cryptoassets.

30 minutes ago they took to Twitter to announce on Sept 23rd, there was a database hack of their cloud service provider, which resulted in a loss of $200m in assets on the Mixin Network. Likely from private key compromise.

Biggest stolen assets Include:

59,854 ETH ($94.4M)
891 BTC ($23.3M)
23.57M USDT (swapped for 23.55M DAI to avoid the freezing of funds by Tether)

Their native token XIN is surely about to take a hit, with it being down 10% since the announcement.

Another 9 figure crypto hack. ????‍♂️

The biggest crypto hack of 2023, so far..

https://imgur.com/a/WYWU7Vr

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This was their announcement on Twitter.

[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 to assist with the investigation. After initial verification, the funds involved are approximately US$200 million. Deposit and withdrawal services on Mixin Network have been temporarily suspended. After discussion and consensus among all nodes, these services will be reopened once the vulnerabilities are confirmed and fixed. During this period, transfers are not affected.

Regarding how to deal with the lost assets, the Mixin team will announce the solution afterward. Mixin founder Feng Xiaodong will explain this incident in a public Mandarin livestream at 13:00 HKT on September 25, 2023. Please help spread the word. We will summarize the content in English afterward for easy reference. We will try our best to minimize the losses and deeply apologize for this. Thank you, everyone, for your continuous support.

https://x.com/mixinkernel/status/1706139175018529139?s=46&t=GpWP0EdHqBeMteYaGqJP1g