{"id":65014,"date":"2023-09-25T00:51:56","date_gmt":"2023-09-25T04:51:56","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/crypto\/mixin-networks-cloud-service-provider-hacked-200-million-in-funds-affected\/"},"modified":"2023-09-25T00:51:58","modified_gmt":"2023-09-25T04:51:58","slug":"mixin-networks-cloud-service-provider-hacked-200-million-in-funds-affected","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=65014","title":{"rendered":"Mixin Network’s Cloud Service Provider Hacked, $200 Million in Funds Affected"},"content":{"rendered":"
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Mixin Network has revealed that the database of its cloud service provider was attacked on September 23, resulting in the loss of a substantial sum of assets on the mainnet.<\/p>\n

As per the official announcement<\/a>, the amount of funds affected in the hack was $200 million.\u00a0<\/p>\n

The incident prompted Mixin Network to take immediate action, enlisting the expertise of Google and the blockchain security firm SlowMist<\/a> to aid in the ongoing investigation.<\/p>\n

Mixin Network’s token XIN fell sharply after the news, trading at $194, down 9% at the time of writing. \u00a0<\/p>\n

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Mixin Network Suspends Deposits and Withdrawals<\/h2>\n

In response, Mixin Network has temporarily suspended deposit and withdrawal services.\u00a0<\/p>\n

These services will be reinstated following a thorough review and consensus among all network nodes, ensuring that any vulnerabilities are addressed and rectified, the network announced in an X post today.\u00a0<\/p>\n

However, transfers on the network remain unaffected by the suspension.<\/p>\n

The Mixin team is actively working on a solution to address the loss of assets, and further details will be shared with the community in due course.\u00a0<\/p>\n

To keep the community informed, Mixin Network’s founder, Feng Xiaodong, will conduct a live Mandarin-language stream at 13:00 HKT on September 25, 2023.\u00a0<\/p>\n

The famous Chinese investor KOL Li Xiaolai has invested and promoted Mixin Network.\u00a0<\/p>\n

The network claims to be a wallet solution and currently supports 48 public chains with total network assets exceeding US$1 billion.\u00a0<\/p>\n

Mixin Network is the latest network to get hacked for 9 figures. Earlier, Balancer protocol was hacked for $2 million and before that Exactly Protocol was exploited for over $12 million.<\/p>\n<\/p><\/div>\n