Hackers stole over $90 million worth of crypto coins from Japanese cryptocurrency exchange Liquid

No day goes by without headlines on cyberattacks. But we’re now beginning to see a different type of attack, this time the attack on cryptocurrency. This morning, Japanese cryptocurrency exchange Liquid said in a Twitter post that it has been a target of a cyberattack. The announcement is the second major crypto heist to take place in a little over a week.

In a tweet, Liquid said that hackers make off with more than $90 million worth of digital coins. In addition, the crypto startup also said that some of its digital currency wallets had been “compromised,” and that hackers were transferring the assets to four different wallets.

In a tweet, Liquid said it’s currently investigating and will provide regular updates. For now, the company said it suspend deposits and withdrawals until the issue is resolved.

“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.”

Important Notice:
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.

— Liquid Global Official (@Liquid_Global) August 19, 2021

Liquid told the news media that it is regulated by Japan’s Financial Services Agency. Elliptic, a blockchain analytics company, said its analysis showed that just over $94 million in cryptocurrencies had been obtained by the hackers.

Elliptic added that $45 million in tokens were being converted to ethereum through decentralized exchanges — blockchain-based platforms that require no intermediaries — like Uniswap and SushiSwap,

“This enables the hacker to avoid having these assets frozen — as is possible with many Ethereum tokens,” Elliptic said in a blog post.

On August 10, Hackers stole $600 million in the biggest DeFi hack after PolyNetwork was exploited on Binance Smart Chain, Polygon, and Ethereum.