Hackers Steal $100m From Japanese Cryptocurrency Exchange

Uploaded on 2021-08-30 in TECHNOLOGY--Hackers, FREE TO VIEW, BUSINESS-Services-Financial, TECHNOLOGY-Key Areas-Blockchain

Leading Japanese crypto currency exchange Liquid has been hit by hackers, with almost $100m (£73m) estimated to have been stolen, making this the second known major crypto currency theft in August 2021. 

The company announced that some of its digital currency wallets have been compromised."We are sorry to announce that #LiquidGlobal warm wallets were compromised, we are moving assets into the cold wallet," the company said on Twitter. 

The theft comes just a few days after one of the biggest ever crypto currency thefts  in which hackers stole over  $600m in crypto currencies and tokens 

The anonymous hacker, dubbed ‘Mr White Hat’ by the Poly Network team managed to steal $614 million in digital coins.  That hack is considered the largest known theft of crypto currency to date and there seems to be little the Poly Network team can do except request the hacker to return the stolen coins peacefully. After returning a portion of the funds, the hacker is now refusing to cooperate further with the Poly Network.

So-called 'warm' or 'hot' digital wallets are usually based online and designed to allow users to access their crypto currencies more easily, while 'cold' wallets are offline and harder to access and therefore usually more secure. 

Blockchain analytics firm Elliptic said its analysis showed that around $97m in crypto currencies had been taken, with Bitcoin and Ethereum tokens amongst the haul.

Liquid has said that it was tracing the movement of the stolen crypto currencies and working with other exchanges to freeze and recover the assets.

Liquid operates in over 100 countries and serves millions of customers around the world and is is one of the world's top 20 biggest crypto currency exchanges by daily trading volumes. Liquid is not the only Japanese crypto currency platform to be hit by a major theft. In 2014, Tokyo-based exchange MtGox was taken down when almost half a billion dollars of bitcoin was taken.

Business Insider:      FBCNews:   DigitFYI:     LatestLY:       Dhaka Tribune:       Zee5:       BBC: 

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