Thursday 19 August 2021 12:01 pm

Hacker in possession of $80m+ after crypto exchange attack

Liquid, a crypto exchange based in Japan, confirmed that it has been the victim of an attack with a hacker now in possession of $80m+.

The hack targeted funds stored in the exchange’s “warm wallets,” a term used to describe wallets which are made vulnerable to hacks because they are connected to the internet. 

In a tweet, the company said: “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 company added.

The hackers addresses were identified on the Bitcoin, Ethereum, Tron and Ripple blockchains and made public online by the exchange.

While Liquid has not commented on the amount stolen, the hacker’s addresses contain upwards of $80m. One address contains approximately $69m in ETH and ETH tokens. A second account holds $4.8m in BTC and a third account contains $11m in XRP.

The CEO of KuCoin, the world’s fifth largest crypto exchange by trade volume, responded to news of the hack on Twitter. He said: “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.”

In further comments, Liquid added: “We will continue to work with the community to take the appropriate actions.”

Read more: Poly Network offers hacker behind biggest ever DeFi attack $500k reward