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Japan's Liquid hit by USD 94 mln hack

Thursday 19 August 2021 15:25 CET | News

Japanese cryptocurrency exchange Liquid has announced it was hit by hackers in a theft estimated to top USD 94 million, in the latest targeting of a crypto platform.

Liquid later said it was tracing the movement of the assets and working with other exchanges to freeze and recover funds. London-based blockchain analysis firm Elliptic said digital addresses identified by Liquid as belonging to the thief had totalled over USD 94 million here, including USD 45 million in tokens connected to the Ethereum blockchain.

The hacker or hackers is converting these tokens to the ether cryptocurrency via so-called decentralised - peer-to-peer - exchanges, Elliptic said, adding that it was aiding Liquid in tracking the stolen funds. Founded in 2014, Liquid serves millions of customers across the world. It operates in over 100 countries.

Crypto platform Poly Network was at the centre of a USD 610 million crypto theft last week, one of the biggest ever. Within days of the heist, the decentralised finance platform said the ‘white hat’ hacker or hackers had returned nearly all the loot.



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Keywords: cryptocurrency, hacking, online fraud, cryptocurrency exchange
Categories: Securing Transactions | Digital Identity, Security & Online Fraud
Countries: Japan
This article is part of category

Securing Transactions