autotldr@lemmings.world
on 27 Sep 2023 01:15
nextcollapse
This is the best summary I could come up with:
LONDON, Sept 25 (Reuters) - Hackers stole around $200 million from crypto firm Mixin early on Saturday, the company said on social media platform X on Monday, in what researchers say is the largest crypto theft so far this year.
Mixin, which lists its location on LinkedIn as Hong Kong, said the database of its network’s cloud service provider was “attacked by hackers, resulting in the loss of some assets” and that “the funds involved are approximately US$200 million”.
Mixin describes itself as a network for transferring digital assets.
It said on X, formerly known as Twitter, that it had stopped allowing users to withdraw their funds from the network, but that transfers were not affected and that services will re-open once the vulnerabilities are fixed.
Mixin will announce a solution for “how to deal with the lost assets”, it said.
At $200 million, the hack would be the 10th largest crypto hack of all time, by volume of crypto stolen, and the biggest so far in 2023, according to blockchain research firm Elliptic.
The original article contains 206 words, the summary contains 174 words. Saved 16%. I’m a bot and I’m open source!
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This is the best summary I could come up with:
LONDON, Sept 25 (Reuters) - Hackers stole around $200 million from crypto firm Mixin early on Saturday, the company said on social media platform X on Monday, in what researchers say is the largest crypto theft so far this year.
Mixin, which lists its location on LinkedIn as Hong Kong, said the database of its network’s cloud service provider was “attacked by hackers, resulting in the loss of some assets” and that “the funds involved are approximately US$200 million”.
Mixin describes itself as a network for transferring digital assets.
It said on X, formerly known as Twitter, that it had stopped allowing users to withdraw their funds from the network, but that transfers were not affected and that services will re-open once the vulnerabilities are fixed.
Mixin will announce a solution for “how to deal with the lost assets”, it said.
At $200 million, the hack would be the 10th largest crypto hack of all time, by volume of crypto stolen, and the biggest so far in 2023, according to blockchain research firm Elliptic.
The original article contains 206 words, the summary contains 174 words. Saved 16%. I’m a bot and I’m open source!
One wonders how many of these are hacks and how many are insiders using it as a way to take the money and run
I would estimate a good 50% are insiders. Crypto firms are big targets for hackers, and lots of firms have poor to average security protocols
Not your keys, not your coins.
Sell all your shitcoins for bitcoin and self custody your sats.