Crypto firm Mixin reported a loss of approximately USD200m due to a hack, marking the biggest crypto theft of 2023, the company revealed on social media platform X, previously known as Twitter. The Hong Kong-based company stated hackers targeted the database of its network’s cloud service provider. While Mixin has temporarily suspended user withdrawals from its network, other transfers remain operational, and services are expected to resume once the security issues are addressed. The company will later detail its plan for addressing the lost assets. Blockchain research firm Elliptic ranks this theft as the 10th largest crypto hack by volume. In contrast, Chainalysis records showed a staggering USD3.8bn in crypto stolen in 2022, the highest annual amount to date.
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