Mixin Network Suspends Operations After $200-Million Hack

Microsoft says it has detected a renewed wave of cyberattacks from the same state-backed group behind the massive SolarWinds hack — AFP / NICOLAS ASFOURI

Mixin Network, a Hong Kong-based digital wallet company, suspended deposits and withdrawals after the it was attacked by hackers on Sept. 23.

"After initial verification, the funds involved are approximately US$200 million," the company said in a statement posted Monday on X, the former Twitter.

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

Mixin Network is an open-source and decentralized platform "to bring speed and scalability to the blockchain," according to the company's website.

[Announcement] In the early morning of September 23, 2023 Hong Kong time, the database of Mixin Network's cloud service provider was attacked by hackers, resulting in the loss of some assets on the mainnet. We have contacted Google and blockchain security company @SlowMist_Team…
— Mixin Kernel (@MixinKernel) September 25, 2023

Company's announcement

According to the website DefiLlama, which tracks crypto hacks, this could be one of the biggest attacks this year. The losses before the Mixin hack were totaling $735 million in 2023, according to DefiLlama data. Last year, hackers took more than $3.2 billion in 60 hacks.

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