Crypto wallet company Mixin Network suspends deposits, withdrawals

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Crypto wallet company Mixin Network suspends deposits, withdrawals

After being attacked on Sept. 23 by hackers, Mixin Network, a Hong Kong-based digital wallet company, suspended deposits and withdrawals.

The target was the database of the company's cloud service provider, Mixin said, without identifying the attackers. It contacted Google and the blockchain security company, @SlowMist_Team, to help in the investigation.

The mixin network is an open-source platform that aims to bring speed and scalability to the blockchain, according to the company's website.

Crypto hacks are making a comeback, according to website DefiLlama, which tracks crypto hacks. The losses were estimated to be $735 million in 2023, according to data from DefiLlama. In 60 hacks, hackers took more than $3.2 billion.