[ad_1]
NEW DELHI: Liquid Global, a major Japanese cryptocurrency exchange, has been hacked and $ 97 million worth of cryptocurrency stolen.
The incident was reported in a tweet from Liquid Global on Thursday. Now they are moving digital assets to secure cold wallets from hot wallets.
A blockchain analytics company, Elliptic has estimated that more than $ 97 million worth of crypto in Ethereum, Bitcoin, XRP, and stablecoins have been stolen.
Of that amount, $ 45 million is in Ethereum which is converted to ether to prevent the hacker from freezing the assets.
Cold wallets and hot / hot wallets are cryptocurrency wallets. Hot wallets are connected to the internet and allow users to receive, send and store tokens and are more vulnerable to theft. Cold wallet works in offline mode.
Liquid Global has suspended deposits and withdrawals in the exchange pending investigation of the incident.
The company claimed in a blog post that the hacker targeted a multi-party compute wallet (MPC), used for the storage and management of crypto assets used by a Singaporean subsidiary QUOINE PTE.
MPC is an advanced cryptographic technique in which the private key controlling the funds is collectively generated by a set of parties, none of which can see the fragments computed by others.
However, the Japanese stock exchange did not explain how its security was shaken.
Liquid Global assured that it is trying to trace the funds and is working with other exchanges to freeze and recover the funds. He also assured that he would do everything in his power to alleviate the crisis and restore all services as soon as possible.
This is the second major crypto heist reported in the world of decentralized finance or DeFi. A week later comes the biggest heist of $ 600 million in cryptocurrency from a PolyNetwork protocol, which allows users to exchange tokens between different blockchains.
The incident was reported in a tweet from Liquid Global on Thursday. Now they are moving digital assets to secure cold wallets from hot wallets.
A blockchain analytics company, Elliptic has estimated that more than $ 97 million worth of crypto in Ethereum, Bitcoin, XRP, and stablecoins have been stolen.
Of that amount, $ 45 million is in Ethereum which is converted to ether to prevent the hacker from freezing the assets.
Cold wallets and hot / hot wallets are cryptocurrency wallets. Hot wallets are connected to the internet and allow users to receive, send and store tokens and are more vulnerable to theft. Cold wallet works in offline mode.
Liquid Global has suspended deposits and withdrawals in the exchange pending investigation of the incident.
The company claimed in a blog post that the hacker targeted a multi-party compute wallet (MPC), used for the storage and management of crypto assets used by a Singaporean subsidiary QUOINE PTE.
MPC is an advanced cryptographic technique in which the private key controlling the funds is collectively generated by a set of parties, none of which can see the fragments computed by others.
However, the Japanese stock exchange did not explain how its security was shaken.
Liquid Global assured that it is trying to trace the funds and is working with other exchanges to freeze and recover the funds. He also assured that he would do everything in his power to alleviate the crisis and restore all services as soon as possible.
This is the second major crypto heist reported in the world of decentralized finance or DeFi. A week later comes the biggest heist of $ 600 million in cryptocurrency from a PolyNetwork protocol, which allows users to exchange tokens between different blockchains.
[ad_2]
Source link
