On September 23, the Hong Kong-based cryptocurrency business Mixin announced a severe security compromise.

The hack resulted in unauthorized access to their cloud service provider’s database, resulting in the loss of around $200 million in mainnet digital assets.

As an early response, TechCrunch claimed that Mixin has enlisted the assistance of Google and blockchain security firm SlowMist in the probe.

In light of the compromise, the company temporarily banned deposit and withdrawal services on Mixin Network. Following a thorough evaluation and correction of the reported vulnerabilities by all nodes concerned, these services will be restored.

RELATED: In Vegas, Hackers Battle ChatGPT With Assistance From The White House

According to the business, Mixin Network is a decentralized exchange and cross-chain network assisted by “35 mainnet nodes.” It is intended to create a decentralized open and transparent ledger for the frictionless transfer of digital assets.

Despite Mixin’s decentralized platform structure, the incident raises issues about how such a massive security compromise could occur within the allegedly strong system.

“On the early morning of September 23, 2023 Hong Kong time, hackers attacked the database of Mixin Network’s cloud service provider, resulting in the loss of some assets on the mainnet.” “We’ve reached out to Google and blockchain security firm @SlowMist_Team for assistance with the investigation,” the crypto startup said in an X post.

Google spokesperson Melanie Lombardi confirmed to TechCrunch that Mandiant, a cyber incident response service acquired by Google last year, was involved in assisting Mixin’s response to the problem.

RELATED: A New Smartphone Flaw May Allow Hackers To Track User Position

This suggests that Mixin and Google are working together to successfully address the incident. Feng Xiaodong, the creator of Mixin, is planned to address the event in a public livestream in Mandarin on September 25 at 13:00 HKT.

This event aims to present a transparent overview of the situation and discuss Mixin’s plans for the lost assets. Following the broadcast, an English summary will be made accessible for easy reference.

In the midst of this terrible situation, Mixin underlined its dedication to minimizing losses and expressed heartfelt regret to its community for any difficulty caused. They are also grateful for the ongoing support they have received.

RELATED: The Technological Gap That Allows Hackers To Manipulate Surveillance Cameras

“The Mixin team will announce the solution to dealing with the lost assets afterward.” On September 25, 2023, at 13:00 HKT, Mixin founder Feng Xiaodong will explain the situation in a public Mandarin livestream. Please assist in spreading the word. Following that, we will describe the text in English for simple reference. “We will do our best to minimize the losses and sincerely apologize,” Mixin said in a news release.


Download The Radiant App To Start Watching!

Web: Watch Now

LGTV™: Download

ROKU™: Download

XBox™: Download

Samsung TV™: Download

Amazon Fire TV™: Download

Android TV™: Download