A Japanese Crypto Exchange calls out for it’s digital wallet being “compromised” as of August 19. As per the exchange the hackers have allegedly transferred their assets into four alternative wallets.
Liquid posted a tweet stating that the whole matter is under investigation and due to the exchange being “compromised” is being moved to cold wallet. In addition, the present deposits and withdrawals will be suspended. Although, the Japanese exchange did not reveal the damaged caused in real terms, the blockchain analytics company, Elliptic has estimated the value of the cryptocurrency stolen to be more than $97 million.
As reported in a blog post, Elliptic said, “just over $97 million in crypto assets have been received by the accounts identified by Liquid as belonging to the thief.” Further Elliptic informed that the stolen assets even include $45 million of Ethereum tokens that are presently converted into Ether with the help of decentralized exchanges such as Uniswap and Sushiswap. It also indicated that the shift allows the hackers to dodge freezing of tokens.
CoinMarket Cap dictates that Liquid stands amongst the top 20 cryptocurrencies exchange globally. In terms of trade, the exchange produces more than $133 million transactions in one day.
The incident of hacking took place earlier when the culprits invaded Poly Network, decentralised finance company, and stole digital tokens for $613 million.
Surprisingly, after Poly Network urged the hackers to “work out a solution” on Twitter, they returned around $342 million, which was reportedly more than half of the amount stolen by them. Later, the ethical if White Hat hackers confirmed that they intended no harm but wanted to reveal the risk and vulnerability involved before it resulted into something unwanted.
The whole matter was resolved with a sweet gesture from Poly Network thanking the ethical hackers in improving their security network.
As of now, nothing is reported for the hacked digital wallet of the Japanese Exchange Liquid.