Mixin Network hit by $200 million cyberattack

In the current climate marked by recurring attacks on decentralized finance (DeFi), Mixin Network has not been spared by this trend. This blockchain platform, touted for its speedy transactions, was recently targeted by a cyberattack, resulting in a $200 million loss.

Mixin Network stripped of $200m in attack targeting supplier database

Mixin Network, an ecosystem with a centralized database, was targeted in a cyberattack over the weekend. During this attack, hackers succeeded in compromising the database of the platform’s cloud service providers.

This intrusion was confirmed by the company after the publication of a report by blockchain security firm SlowMist, highlighting losses of assets worth around $200 million on the main network.

In the early morning of September 23, 2023 Hong Kong time, the database of Mixin Network’s cloud service provider was attacked by hackers, resulting in the loss of some assets on the mainnet.

Excerpt from Mixin Network press release

Deposit and withdrawal services suspended pending resolution of the problem

In response to this attack, deposit and withdrawal services have been temporarily suspended, and a joint investigation has been launched with Google and SlowMist. The Mixin Network team has announced that services will be restored once the vulnerabilities have been identified and fixed.

Meanwhile, XIN, Mixin’s native token, fell 8.5% to $195..

This attack is part of a worrying trend observed recently in the DeFi ecosystem, with other protocols such as Curve and Balancer which have also been the victims of attacks.