Hong Kong crypto firm Mixin hit by $200 million hack

Welcome to the exciting world of the crypto universe—a place where fortunes are made, lost, and sometimes stolen. Let's dive into the story of Mixin, a crypto company based in Hong Kong.

• The Incident: Mixin’s cloud service provider was breached, causing $200M of their assets to disappear.

• The Aftermath: In response, Mixin immediately suspended all deposit and withdrawal services to address the security vulnerabilities.

• The Response: To investigate the situation, Mixin sought assistance from Google and crypto security firm, SlowMist. It's worth noting that Mixin operates a decentralized exchange and cross-chain network that enables smooth transactions of digital assets with over a million users.

• The Mystery: The intriguing part of this incident is how the theft occurred despite Mixin's decentralized nature.

• The Investigation: Melanie Lombardi, Google's representative, confirmed that Mixin is receiving support from Mandiant, a cybersecurity firm acquired by Google last year. Mixin has yet to release a statement regarding the issue.

• The Assurance: Despite the current silence, Mixin assures a swift resolution and mentions that they have a solution in the works for the stolen assets.

This breach has been reported as the largest crypto theft in 2023 by Rekt, a crypto watchdog. The previous record was held by Euler, a crypto lending platform that lost "only" $197M in March.