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The decentralized peer-to-peer platform Mixin Network has experienced a loss of around $200 million due to a breach involving the database of a third-party cloud service provider.
On September 25, Mixin Network confirmed that a breach on September 23 resulted in the theft of approximately $200 million in cryptocurrency from its mainnet. Following this incident, all deposit and withdrawal services on Mixin Network were promptly suspended.
[Announcement] In the early hours of September 23, 2023, Hong Kong time, the database of Mixin Network’s cloud service provider was compromised by hackers, leading to the loss of certain assets on the mainnet. We have reached out to Google and blockchain security firm @SlowMist_Team…
— Mixin Kernel (@MixinKernel) September 25, 2023
Mixin Network has engaged blockchain investigator SlowMist, along with Google, to assist in the investigation of the breach as the Mixin team works towards recovery. At the time of the incident, Mixin held $94.48 million in Ether (ETH), $23.55 million in Dai (DAI), and $23.3 million in Bitcoin (BTC), based on a separate analysis by PeckShield. The total asset portfolio was valued at $141.32 million.
Mixin Network portfolio of $141.32 million. Source: PeckShield
Deposits and withdrawals on Mixin Network will resume “once the vulnerabilities are identified and resolved.” Plans for recovering the lost assets for users were not disclosed immediately.
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Although it was initially stated that Mixin founder Feng Xiaodong would address this incident in a public Mandarin livestream at 1:00 pm Hong Kong Time on September 25, links to the livestream were not made available on official social media platforms such as X (formerly Twitter) or its official website mixin.network.
Mixin Network did not reply to Cointelegraph’s request for comment by the time of publication.
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Ethereum co-founder Vitalik Buterin recently experienced a hack that compromised his social media account on X.
Vitalik Buterin confirms how hackers accessed his X account. Source: Warpcast
Buterin confirmed that he was targeted in a SIM swap attack after “someone socially-engineered T-mobile itself to take over my phone number.” SIM swap or sim jacking attacks aim to gain control of the victim’s mobile number and utilize two-factor authentication to access social media, banking, and cryptocurrency accounts.
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