Japanese Crypto Exchange Liquid has Hot Wallets Hacked, Over $80M Stolen

Share Article
In Brief
  • Liquid crypto exchange experienced a hack to their hot wallets.

  • Funds affected include BTC, ETH, and XRP.

  • This the latest multiple major hacks in the crypto industry.

  • promo

    Join the BIGGEST ICO ever launched in Spain: Buy B2M now.

The Trust Project is an international consortium of news organizations building standards of transparency.

The Japanese crypto exchange Liquid Global announced a security breach to their warm wallets. 

Sponsored



Sponsored

Earlier today Liquid Global announced on Twitter, a hack to their warm wallets. The hacker managed to steal funds in BTC, ETH, TRX, and XRP

In response to the compromise, Liquid said it is moving all assets into cold storage wallets for the time being. In addition, they suspended deposit and withdrawal services. The exchange also said they’re, “currently tracing the movement of the assets and working with other exchanges to freeze and recover funds.”

Sponsored



Sponsored

Liquid posted lists of the wallet addresses used by the hacker. 

Liquid Global is a cryptocurrency exchange, which allows its user to buy and swap various digital currencies. Recently, it launched a new feature called, “Liquid Earn”. By participating in their earn program, investors can earn up to 13.989% APY on their crypto holdings.

Hackers on the Loose

The crypto industry has experienced multiple major hacks in the recent months. 

Last week, the news of the Poly Network hack spread like wildfire across the crypto space. This was the largest hack to date in the DeFi community. The hacker stole over $600 million in various digital currencies. However, in this strange heist, the hacker complied with Poly and began returning chunks of funds. 

Poly wasted no time and created a bug bounty program, which offers monetary rewards and encourages more focus on cybersecurity issues. The network even offered the hacker a position in the company as Chief Security Advisor. 

Shortly after the news of the Poly hack, T-Mobile announced a breach of security which resulted in the loss of data of millions. While this isn’t a decentralized network, the hackers are selling the data on a dark web form in exchange for bitcoin.

Binance also felt the blow of a hack back in June. Now the UK high court ordered the exchange to investigate the hackers and freeze their accounts.  Binance said they would comply. 

As the crypto space continues to develop into a robust financial arena, cybersecurity must remain a top priority to the industry’s key players. 

Disclaimer

All the information contained on our website is published in good faith and for general information purposes only. Any action the reader takes upon the information found on our website is strictly at their own risk.
Sponsored
Share Article

Savannah Fortis is a multimedia journalist covering stories at the intersection culture, international relations, and technology. Through her travels she was introduced to the crypto-community back in 2017 and has been interacting with the space since.

Follow Author

Market signals, studies and analysis! Join our Telegram Today!

Go

Bit2Me ICO JUST STARTED! Buy B2M token now.

Buy now!

Market signals, studies and analysis! Join our Telegram Today!

Go