Liquid – Japan based crypto exchange lost over $90 million after hack

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.



liquid tweet




“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.



Stolen Liquid cryptoassets
Source: Elliptic (Stolen Liquid cryptoassets)




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.



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