Mixin Flow of Funds Analysis
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Hack Track: Mixin Flow of Funds Analysis
Merkle Science
Mixin Network, a Hong Kong-based digital asset transactional platform, reported a security breach on 25 September, revealing a loss of approximately $200 million due to a hack of its cloud service provider. The stolen funds accounted for so far are comprised of ETH, USDT (swapped to DAI), and BTC. If the $200M figure stated by Mixin is accurate, it would make this incident the biggest hack of 2023 so far.
This unfortunate event marks the second significant cryptocurrency breach in Hong Kong this month, underscoring the persistent challenges faced in safeguarding digital assets, despite regulatory efforts.
What is Mixin Network?
With the mission to put convenience, security, and privacy in digital assets and messages first, Mixin Network claims to be a free, lightning-fast peer-to-peer network for digital assets.
Response to the Incident
In response to the incident, Mixin Network announced on Twitter, "In the early morning of September …
Merkle Science
Mixin Network, a Hong Kong-based digital asset transactional platform, reported a security breach on 25 September, revealing a loss of approximately $200 million due to a hack of its cloud service provider. The stolen funds accounted for so far are comprised of ETH, USDT (swapped to DAI), and BTC. If the $200M figure stated by Mixin is accurate, it would make this incident the biggest hack of 2023 so far.
This unfortunate event marks the second significant cryptocurrency breach in Hong Kong this month, underscoring the persistent challenges faced in safeguarding digital assets, despite regulatory efforts.
What is Mixin Network?
With the mission to put convenience, security, and privacy in digital assets and messages first, Mixin Network claims to be a free, lightning-fast peer-to-peer network for digital assets.
Response to the Incident
In response to the incident, Mixin Network announced on Twitter, "In the early morning of September …