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Crypto exchange Liquid lost over $90 million in a hack

Crypto exchange Liquid lost over $90 million in a hack

Japanese cryptocurrency exchange Liquid announced hackers stole assets worth $91.35 million.

“We are sorry to announce that #LiquidGlobal warm wallets were compromised, we are moving assets into the cold wallet,” reads the companys’ Thursday statement.

The company is working on mitigating any further risks to clients, aiming to restore full service once. All crypto withdrawals were halted once Liquid detected the hack.

The company advises not to deposit any crypto assets to Liquid wallets until further notice.

Not even a week has passed since a ‘white hat’ hacker stole over $600 million from Poly Network, a decentralized finance (DeFi) platform.

However, in Poly Networks case, the hacker returned the stolen funds and received a reward from the company for pointing out a security flaw that allowed the hack in the first place.

Liquid is not the first exchange hit in Japan. In 2014, a Tokyo-based exchange Mt.Gox lost half a billion dollars in a hack. Another Tokyo-based exchange, Coincheck, was hit by a $580 million hack in 2018.

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