Japan's Liquid hit by USD 94 mln hack

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.