Japanese cryptocurrency exchange Liquid said on Thursday it was hit by hackers in a theft estimated at more than $94 million, the latest crypto platform to be targeted by cyber-criminals.
“We are sorry to announce that #LiquidGlobal warm wallets were compromised, we are moving assets into the cold wallet,” itsaid on Twitter adding that deposits and withdrawals were suspended.
Liquid later said it was tracing the movement of the assets and working with other exchanges to freeze and recover funds.
“Warm” or “hot” digital wallets are usually based online and designed to allow users to access cryptocurrencies more easily. “Cold” wallets are offline and harder to access -- and therefore typically more secure.
London-based blockchain analysis firm Elliptic said digital addresses identified by Liquid as belonging to the thief had received over $94 million https://www.elliptic.co/blog/liquid-exchange-hacked-94-million-stolen in digital coins, including around $31 million in ether, $5 million in bitcoin and $13 million in XRP.
Some $45 million in tokens connected to the Ethereum blockchain were also stolen, Elliptic said.
The hacker or hackers is converting some of these tokens to the ether cryptocurrency via so-called decentralized -- peer-to-peer -- exchanges, it added.
Elliptic said it was aiding Liquid in tracking the stolen funds.
Liquid’s CEO did not immediately respond to a Reuters request for comment.
Crypto platform Poly Network was at the center of a $610 million crypto theft last week, one of the biggest ever. Within days of the heist, the decentralized finance platform said the “white hat” hacker or hackers had returned nearly all the loot.
Liquid is the latest exchange in Japan to be hit by a major heist.
Tokyo-based exchange Mt.Gox collapsed in 2014 after it lost half a billion dollars in hacks. Coincheck, also based in Tokyo, was hit by a $530 million heist in 2018.
Founded in 2014, Liquid says it serves millions of customers across the world. It operates in over 100 countries, it said.
Crypto platform Poly Network rewards hacker with $500,000 ‘bug bounty’Poly Network, the cryptocurrency platform which lost $610 million in a hack earlier this week, confirmed on Friday it had offered the hacker or ... Technology
London court orders Binance to trace cryptocurrency hackers, freeze their accountsLondon’s High Court has ordered Binance, one of the world’s largest crytocurrency exchanges, to identify hackers and freeze their accounts after one ... Technology
Hacker dubbed ‘Mr White Hat’ to return entire $613 mln in stolen crypto fortuneA firm specializing in transferring cryptocurrency said Thursday that a hacker they are calling “Mr White Hat” was giving back all $613 million in ... World News
Messi joins crypto craze, Paris St Germain signing fee includes fan tokensSoccer star Lionel Messi’s signing on fee at Paris St Germain includes some of the French club’s cryptocurrency fan tokens, in the latest big name ... Life
Cryptocurrency platform Poly loses estimated $600 million in cyberheistA cryptocurrency platform has lost an estimated $600 million in digital tokens after one of the sector’s biggest ever hacking attacks, according to ... Technology
Polish police HQ staffer steals electricity for crypto-mining operationPolish police on Friday said they had uncovered a bitcoin mining operation in their own headquarters in Warsaw.“A civilian employee, not a police ... Life
British police seize record $408 million haul of cryptocurrencyBritish police have seized record hauls of cryptocurrency totaling $408 million as part of an investigation into money laundering after organized ... World News