Mixin Network users will only get half of their funds

The founder of Mixin Network has announced that users of his service will have access to half of their assets. This statement comes just days after a $200 million hack. In view of the amount stolen, this hack is the largest recorded in the year 2023.

Users can only access half of their funds

After undergoing a hack worth $200 million, Mixin Network is working to revive the platform and restore users’ rights. In addition to suspending activities to better identify and correct the vulnerability, Mixin Network is keen to give users back their funds. For now, the platform can only guarantee access to half of the funds. At least, that’s what the founder of Mixin Network during a livestream.

Whatever your assets, whether Bitcoin or Ethereum, we’ll make sure that half of them are unaffected.

Feng Xiaodong, founder of Mixin Network.

For the rest of the assets, the founder of Mixin Network plans to issue what it calls “bond tokens”. Users will then have to claim these tokens up to the amount of funds expected from Mixin Network. The platform can then buy back these tokens to reimburse users.

Mixin Network suffers the biggest hack of 2023

Mixin Network is now the most important hack of 2023, alongside Euler Finance ($197 million), CoinEx ($70 million) and Atomic Wallet ($65 million).

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Hacks are increasingly present in the crypto ecosystem, so be careful!