Decentralized peer-to-peer network Mixin Network recently experienced a hack that resulted in the loss of approximately $200 million in crypto assets. The breach, which occurred on September 23, targeted a third-party cloud service provider’s database. Mixin Network has suspended all deposit and withdrawal services while it investigates the hack and attempts to recover the lost assets.
The network has enlisted the help of blockchain investigator SlowMist and Google to assist in the investigation. At the time of the hack, Mixin Network held around $94.48 million in Ether, $23.55 million in DAI, and $23.3 million in Bitcoin, totaling $141.32 million in assets. The platform plans to resume deposits and withdrawals once the vulnerabilities are identified and resolved.
While there was initially an announcement that Mixin founder Feng Xiaodong would provide an explanation of the incident in a live stream, no links to the stream were made available on official social media channels or the Mixin Network website.
In a separate incident, Ethereum co-founder Vitalik Buterin also recently experienced a hack that compromised his social media profile on X. Buterin confirmed that the attack was a SIM swap attempt, which aims to take control of the victim’s mobile number and exploit two-factor authentication for unauthorized access to various online accounts, including social media, banking, and cryptocurrency.