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- Liquid, a Japanese exchange, was hacked, and roughly $80 million in digital assets were stolen. In an August 19 tweet, Liquid acknowledged the security compromise, providing the wallet addresses implicated in the leak
- Unconfirmed sources claim that the Ethereum wallet that was hacked housed cryptocurrency yield provider Celsius Network deposits
- In November 2018, Liquid suffered a data breach in which hackers gained access to its users’ personal information, including names, addresses, and passwords
Liquid, a Japanese exchange, was hacked, and roughly $80 million in digital assets were stolen. In an August 19 tweet, Liquid acknowledged the security compromise, providing the wallet addresses implicated in the leak. Only the exchange’s warm wallets were impacted, according to the exchange, and its assets are presently being transferred to cold storage.
On Liquid, withdrawals and deposits have been halted, with the exchange pledging to give frequent updates while the investigation continues. While Liquid has yet to confirm the precise amount taken, Cointelegraph reports that the hackers appear to have taken more than 107 BTC, 9,000,000 TRX, 11,000,000 XRP, and almost $60 million worth of ETH and ERC-20 tokens.
Unconfirmed sources claim that the Ethereum wallet that was hacked housed cryptocurrency yield provider Celsius Network deposits. Celsius announced in April that it has partnered with Liquid to give users of the exchange a compounding return on digital asset purchases.
The liquid was one of the first fiat-to-crypto currency exchanges to offer Celsius’ native CEL coin in 2019, according to the statement, and the two companies have continued to strengthen their collaboration since then. According to a tweet from KuCoin’s CEO, Jonny Lyu, another exchange quickly responded to the breach by blacklisting the addresses implicated in the theft. In November 2018, Liquid suffered a data breach in which hackers gained access to its users’ personal information, including names, addresses, and passwords.
The security and risk gap between established, battle-tested DeFi protocols and new, untested DeFi protocols are increasing, said Rune Christensen, the former director of the body behind high-profile DeFi software Maker. The usage of open-source code, according to proponents, allows users to swiftly identify and resolve flaws, lowering the risk of crime. They claim that DeFi can police itself.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
