Hackers steal $200 million from Mixin, Hong Kong-based crypto company

Hackers steal $200 million from Mixin, Hong Kong-based crypto company

The Hong Kong-based crypto company, Mixin, announced on Sunday it had been breached and that the hackers had stolen around $200 million.

The firm said it contacted Google and the crypto security firm SlowMist to help with the investigation.

Mixin describes its product as a 'open and transparent decentralized ledger, which is collectively booked and maintained by 35 mainnet nodes'. The Mixin Network is a decentralized exchange and cross-chain network that enables users to transfer digital assets.

It's still unknown how hackers were able to steal the money by hacking into Mixin's cloud database, given that Mixin is decentralized.

Mandiant, a cyber incident response firm that was acquired by Google last year, was confirmed by a Google spokeswoman who spokeswoman Melanie Lombardi said.

The two companies, SlowMist, and Mixin, did not immediately respond to a request for comment.

In a statement, Mixin said that it will announce an unspecified'solution' to deal with the stolen assets at a later date.

Rekt, an organization that preserves a list of hacked crypto organizations and projects, maintains the hack on Mixin as the biggest theft in the crypto world in 2023. The previous highest theft was that of Euler, a blockchain lending platform, which was hit by a cyber attack that resulted in the loss of around $197 million in March.

This article was updated to include comment from Google's spokeswoman.