A yet unidentified individual breached the security of cloud service provider Mixin Network and siphoned off around $200 million worth of digital assets on September 23.
The incident was corroborated by Slow Mist analysts and subsequently confirmed by representatives of the protocol.
The attackers exploited the network’s database, resulting in the temporary suspension of deposit and withdrawal services.
Mixin Network is a peer-to-peer cryptocurrency trading network that aims to enhance the scalability and speed of transactions.
It supports major cryptocurrencies such as Bitcoin and Ethereum, among others. As per a July report, the network’s top 100 assets are valued at around $1.1 billion.
The founder of Mixin, Feng Xiaodong, will address the incident live on the evening of September 25 while the team conducts investigations.
