Safe

Bitcoin

Mixin

<![CDATA[<figure class="image"><img src="https://cimg.co/news/125478/331376/mixin-network-hack-1.jpg" srcset="https://cimg.co/news/125478/331376/responsive-images/mixin-network-hack-1___media_library_original_1200_800.jpg 1200w, https://cimg.co/news/125478/331376/responsive-images/mixin-network-hack-1___media_library_original_900_600.jpg 900w, https://cimg.co/news/125478/331376/responsive-images/mixin-network-hack-1___media_library_original_720_480.jpg 720w, https://cimg.co/news/125478/331376/responsive-images/mixin-network-hack-1___media_library_original_600_400.jpg 600w, https://cimg.co/news/125478/331376/responsive-images/mixin-network-hack-1___media_library_original_300_200.jpg 300w" width="1200" class="content-img" alt=""><figcaption>Source: Pexels</figcaption></figure>Mixin Network's founder Feng Xiaodong <a href="https://www.twitch.tv/klpu">addressed the $200 million hack in a livestream</a> saying that they could initially ensure the security of only half of its users' assets.<a href="https://cryptonews.com/news/breaking-mixin-networks-cloud-service-provider-hacked-200-million-funds-affected.htm">Mixin Network revealed a massive hack</a> earlier today on the database of its cloud service provider, compromising users&rsquo; assets worth $200 million."No matter what your assets are &mdash; whether it's Bitcoin or Ethereum &mdash; we will ensure that half of it is unaffected. We&rsquo;re trying to find a way to recover the compromised money, but that is very difficult,&rdquo; Feng stated.&nbsp;Feng further revealed that the damaged assets were mainly Bitcoin core assets, and assets such as BOX and XIN were not affected..&nbsp;<h2 id="mixin-network-considering-issuing-bond-tokens">Mixin Network Considering Issuing &ldquo;Bond Tokens&rdquo;</h2>For the remaining assets affected by the breach, Mixin Network is contemplating the issuance of "bond tokens" that users can claim, with plans to repurchase them in the future.&nbsp;Additionally, the company intends to establish a new system to host user assets, presumably with enhanced security measures.In response to the hack, Mixin Network temporarily suspended deposit and withdrawal services.&nbsp;The situation prompted an investigation, with blockchain security firm SlowMist joining forces to assist in the probe.&nbsp;<a href="https://twitter.com/SlowMist_Team/status/1706133260869468503">SlowMist revealed that the attack</a> targeted the Mixin Network cloud service provider database.These developments have had an impact on Mixin's native token, XIN, which experienced an 9% decline over the past 24 hours, trading at $193 at the time of writing, as per CoinGecko data.As Mixin Network continues to grapple with the aftermath of the security breach, users remain watchful for updates and solutions to secure their assets and restore confidence in the platform's security measures.
]]>

Mixin Network Founder Addresses $200 Million Hack, Says Only Half of User Assets are Safe

Table of Contents

Cryptonews.com

Other articles published on Sep 25, 2023

LINK Predicted To Flourish During The Next Bull Cycle: Analyst

Crypto Influencer Says XRP’s Ruling Will Save the Crypto Ecosystem

Ripple Faces Uncertain Future as Legal Battles Rage On and US Election Looms

Bos MicroStrategy: Bitcoin Bisa Lindungi Kekayaan Anda dari Inflasi dan Pemerintah

Top 6 Reasons Why BlackRock’s Spot Bitcoin ETF Approval is Close

Choosing The Right 10$ Deposit Casino: Tips And Recommendations

Join our free newsletter for daily crypto updates!