Liquid exchange lost $80 million in hack

Liquid Global exchange has lost more than $80 million in digital assets.

Japanese exchange experienced a hack and lost about $80 million in digital assets from the platform.

The exchange approved the security violation in a tweet on August 19, with Liquid exposing the wallet addresses involved in the violation. The exchange wrote that it affected only warm wallets, adding that they moved its assets into cold storage.

Liquid also suspended withdrawals and deposits, with the exchange promising to contribute regular updates after the investigations.

While Liquid is trying to confirm exactly how many tokens they lost, Cointelegraph identified more than 108 BTC, 8,000,000 TRX, 12,000,000 XRP, and nearly $61 million worth of ETH tokens seem to be taken by the hackers.

There are uncertain reports that the Ethereum wallet decided to hold deposits from Celsius Network, a crypto yield provider. Four months ago, Celsius declared that it had united with Liquid to propose a compounding return on digital asset investments to the exchange’s clients.

Overview

This announcement stated that Liquid became one of the first cryptocurrency exchanges supporting Celsius’s token in 2019, saying that these two companies continued to expand their partnership.

According to a tweet from the CEO, Jonny Lyu, another exchange, KuCoin, quickly reacted to the hack.

The Liquid is still trying to find out how many assets are lost. The Block contacted the exchange, but the company has not responded to its request for comment.

However, according to on-chain data flow, those addresses received crypto assets worth over $80 million in total, with transactions initiated several hours ago. The total loss is approximately $74 million as of the current time.

In various transactions, the Bitcoin address received 107 BTC, equal to $4.8 million, but there are only two sending addresses. The Ethereum address received $68 million worth of ETH and many ERC-20 tokens within eight hours.