2021-8-20 14:06 |
Liquid Global, a Japanese crypto trading platform, has suffered a hack that saw malicious actors walk away with approximately $80 million (£58.44 million). The exchange unveiled this news through a tweetstorm earlier today, noting that the hackers exploited a security vulnerability to breach its warm wallets. The exchange has since started moving funds into its cold wallets to prevent further incidents.
One of Liquid’s tweets read,
Important Notice:
We are sorry to announce that #LiquidGlobal warm wallets were compromised, we are moving assets into the cold wallet.
We are currently investigating and will provide regular updates. In the meantime deposits and withdrawals will be suspended.
The exchange noted that the hackers transferred the stolen funds to four addresses. These are
BTC: 1Fx1bhbCwp5LU2gHxfRNiSHi1QSHwZLf7q,
ETH/EWT: 0x5578840aae68682a9779623fa9e8714802b59946,
TRX: TSpcue3bDfZNTP1CutrRrDxRPeEvWhuXbp,
and XRP: rfapBqj7rUkGju7oHTwBwhEyXgwkEM4yby.
While the exchange has not yet disclosed how much it lost, a report claims that the hackers withdrew 107 Bitcoin (BTC/USD), 9,000,000 TRX, 11,000,000 XRP, and almost $60 million (£43.86 million) worth of Etherium (ETH/USD) and ERC-20 tokens. Liquid has also not disclosed which wallets were affected. However, unconfirmed reports claim the compromised ETH wallet held the deposits of Celcius Network, a crypto yield provider.
Trying to help Liquid Global recover the stolen funds, KuCoin’s CEO Johnny Lyu, said his exchange was aware of the attack and that it had added the hackers’ addresses to its blacklist.
We are aware of the #LiquidGlobal security incident, and the hacker's addresses have been added to the blacklist of #KuCoin. Hope everything is OK. 🙏 https://t.co/IasscGItZH
— Johnny_KuCoin (@lyu_johnny) August 19, 2021 Crypto-related attacks on the riseThis news comes after Liquid suffered another attack on November 13, 2020. Reportedly, the attack involved GoDaddy, a domain hosting provider that managed one of the exchange’s domain names, incorrectly transferring account and domain control to a malicious actor. The hacker proceeded to change the DNS records and took control over several internal mail accounts.
As a result, the attacker got access to document storage, potentially disclosing users’ information. However, the exchange quickly contained the attack, preventing the hacker from stealing customer funds.
Apart from Liquid, there have been several high-profile hacks in the crypto space over the past year. For instance, Poly Network’s suffered a $612 million (£447.33 million) attack on August 10. Reportedly, this attack became the largest crypto-related hack in history. While the attacker has returned most of the stolen funds, approximately $235 million remains in a multisig wallet under shared control with Poly Network. BSV also experienced a 51% attack on August 4 after suffering four other hacks between June 24 and July 9.
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