Mixin Network hacked for $200 Million
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Mixin – a cross-chain peer-to-peer network for crypto transfers – has become the latest casualty of crypto thieves. Posting on X, the network announced that it was the victim of a hack on September 23rd, with the funds involved reaching $200 million.
According to Mixin’s statement, hackers compromised the database of the network’s cloud service provider. Founder Feng Xiaodong announced a compensation plan that will initially refund 50% of users’ assets.
Based on publicly-shared exploiter addresses, Elliptic’s internal analysis suggests that the stolen funds consist of $95.3 million in Ether (ETH), $23.7 million in Bitcoin (BTC) and $23.6 million in Tether (USDT).
The chart below shows these values compared to Mixin’s last financial statement, published at the end of July. Assuming this statement remained broadly representative of Mixin’s holdings at the time of the attack, hackers are now in possession of 9% of Mixin’s BTC, 71% of its ETH and 93% of its …
According to Mixin’s statement, hackers compromised the database of the network’s cloud service provider. Founder Feng Xiaodong announced a compensation plan that will initially refund 50% of users’ assets.
Based on publicly-shared exploiter addresses, Elliptic’s internal analysis suggests that the stolen funds consist of $95.3 million in Ether (ETH), $23.7 million in Bitcoin (BTC) and $23.6 million in Tether (USDT).
The chart below shows these values compared to Mixin’s last financial statement, published at the end of July. Assuming this statement remained broadly representative of Mixin’s holdings at the time of the attack, hackers are now in possession of 9% of Mixin’s BTC, 71% of its ETH and 93% of its …