Liquid, a cryptocurrency exchange based in Japan, was hit by a cyber-attack in which its warm wallets were hacked and $94 million in assets were stolen.
Deposits and withdrawals were forced to be halted by the exchange.
Liquid is one of the world’s most popular cryptocurrency-to-fiat trading services (based on daily traded spot volume).
This year, the exchange, which has over 800,000 customers from over 100 countries, has surpassed a daily trade volume of $1.1 billion.
When the crypto exchange became aware of the hack, it shifted its holdings to a cold wallet.
“We are currently investigating and will provide regular updates. In the meantime, deposits and withdrawals will be suspended,” the firm said.
Current status of Liquid services:
- To ensure safety of funds, please do not deposit any crypto assets to your Liquid wallets until further notice.
- Liquid has halted all crypto withdrawals while we assess the impact.
- Fiat withdrawals and deposits remain available.
- Other services on Liquid, including trading and Liquid Earn, remain available.
The crypto exchange is investigating the attack and will offer updates on a regular basis.
For the time being, deposits and withdrawals have been halted.
Elliptic, a blockchain analytics firm, is assisting Liquid in tracing the stolen funds.
The hackers stole around $94 million in cryptocurrency assets in the hack, according to the firm.
The stolen money includes $45 million in Ethereum tokens, which are now being exchanged for ETH on DEXs like Uniswap and SushiSwap, according to Elliptic.
This aids the attackers in avoiding asset freezing, which is a possibility with several Ethereum tokens.
Last week, an unknown threat actor compromised Poly Network’s cross-chain interoperability protocol, resulting in the theft of nearly $611 million, the largest cryptocurrency hack ever.
You might also like:
Hackers stole over $600 million worth of crypto from Poly Network
Cinobi Banking Trojan used to target crypto users with malvertisments
Magecart hackers hide stolen credit card data into images and fake CSS files
Fake cryptocurrency mining apps used to scam thousands of Android users