Mixin Network, a Hong Kong-based peer-to-peer transactional network for digital assets, has announced on X that its cloud service provider's database was hacked, resulting in the loss of approximately US$200 million. This month, Hong Kong has been a major cyber hack, despite the region's efforts to protect digital asset investors.
Elliptic, a blockchain analytics firm, suspects the hack was led by North Korea-backed Lazarus Group, which sent a portion of the stolen funds to an address previously used by the group.
The region's crypto sector has also experienced a number of problems recently, but there are also concerns related to the sector's widespread occurrences. The Dubai-based crypto exchange JPEX was investigated by the local police and financial authorities after allegations of about US$154 million in damages to 1,600 investors.