The team behind the blockchain platform Mixin Network has confirmed reports of a hacker attack resulting in an approximate loss of $200 million, according to cybersecurity firm SlowMist.
The project’s representatives took to social media to announce that the hackers targeted the Mixin Network cloud provider’s database, resulting in the loss of “part of the assets in the main network.” The company’s statement regarding the incident estimated that the funds lost amount to around $200 million.
In response to the attack, services for depositing and withdrawing funds on the Mixin network have been temporarily suspended. The company stated that these services will only resume after vulnerabilities are addressed and confirmed.
Based on the platform’s monthly report for July, the 100 largest assets on the Mixin Network have a combined value exceeding $1.1 billion. During the same month, there were approximately 663,000 unique bitcoin transactions and around 180,000 transactions involving Ethereum (ETH).
Mixin Network is a technological platform that aims to enhance the speed and cost efficiency of transferring cryptocurrency assets across different blockchain networks.