$94 million worth of crypto got hacked by Japanese crypto exchange

The Japanese cryptocurrency exchange stated on Thursday, the exchange had been hit by a cyberattack and its warm wallets have been compromised.

IMG SRC: reuters

"We are sorry to announce that LiquidGlobal warm wallets were compromised, we are moving assets into the cold wallet," it said on Twitter here, adding that deposits and withdrawals were suspended.

“Warm” or “hot” digital wallets are usually based online and designed to allow users to access cryptocurrencies more easily. “Cold” wallets are offline and harder to access - and therefore typically more secure.

The hacker or hackers is converting these tokens to the ether cryptocurrency via so-called decentralized - peer-to-peer - exchanges, Elliptic said, adding that it was aiding Liquid in tracking the stolen funds.

The liquid is the latest exchange in Japan to be hit by a major heist.

Tokyo-based exchange Mt.Gox collapsed in 2014 after it lost half a billion dollars in hacks. Coincheck, also based in Tokyo, was hit by a $530 million heist in 2018.

13 views0 comments