The billion-dollar decentralized cryptocurrency network Mixin Network (XIN) was cyber-attacked and suffered a loss of $200 million.
The cryptocurrency industry faced another hacking incident. By blockchain security company SlowMist 25 September transferred on the day to data According to Mixin Network cloud service provider database containing $200 million worth of cryptocurrencies was subjected to a cyber attack.
Blockchain analysts, the protocol to a central database being connected and located at this point code vulnerability He claimed that it was the main source of the attack.
Founder of Mix Feng Xiaodong In a public hearing held by Only at least half of assets are safe His statements about this attracted attention. Xiaodong added that the process is being followed closely and efforts are continuing to overcome the incident with minimum damage.
Made by the team on social media in the statement, 200 million dollars While the loss is confirmed deposits and withdrawals It was emphasized that it was temporarily suspended:
In the early morning hours 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 main network. We contacted blockchain security company SlowMist to assist with the investigation. After initial verification, the funds in question are approximately $200 million. Deposit and withdrawal services on Mixin Network have been temporarily suspended. Transfers made during this period will not be affected. As for how to deal with lost assets, Mixin team will explain the solution later.
What is Mixin Network (XIN)?
Mixin Network, which has received investment from Chinese billionaire Li Xiaolai and is promoted from time to time. 48 different blockchains on from $1 billion overvalued to cryptocurrency is hosting. Mixin Network, which hosts a Telegram-like wallet and messaging application through a central database, essentially operates as a blockchain network.
Mixin, which announced that it supports 48 networks in its wallet application so far, offers many cross-chain and transfer services. Mixin Network last July 663,489 unique Bitcoin (BTC) process and 179.647 Ethereum (ETH) reported that the transaction had been completed.
XIN, the native token of the platform, which lost value in parallel with the news of the attack on CoinGecko data, close to 10% down From $213 to $191 declined. XIN while writing from $193 finds buyers.