Liquid Global Exchange hacked!
The Japanese liquid exchange arguably the world’s most comprehensive and secure trading platform is down. It specializes in buying and selling Bitcoin, Ethereum, XRP with fiat or crypto . The company will to go offline until further notice
Hackers have moved $80 Million Dollars worth of digital content from the Japanese Liquid Global Exchange hence causing an uproar on the internet.
In an August 19 tweet, the company informed its followers that hackers transferred the assets. They uncovered pocket addresses implicated within the breach, and there will be an investigation on the matter.
The exchange confirmed the security breach in a Thursday tweet, with Liquid revealing wallet addresses implicated making the hack one of the biggest heists. It is however unclear how the hackers bypassed the securities of what is arguably the most secure exchange in the world.
Although Liquid Global has not made an official statement on the exact amount transferred, the addresses show that it was more than 107 bitcoins,11,000,000 XRP 9,000,000 TRX, and close to $60 million prices Ethereum and ERC-20.
A tweet by The company reads:
Important Notice:
— Liquid Global Official (@Liquid_Global) August 19, 2021
We are sorry to announce that #LiquidGlobal warm wallets were compromised, we are moving assets into the cold wallet.
We are currently investigating and will provide regular updates. In the meantime deposits and withdrawals will be suspended.
Kucoin
Meanwhile, another exchange, Kucoin, said blocked the hackers’ addresses.
We are aware of the #LiquidGlobal security incident, and the hacker’s addresses have been added to the blacklist of #KuCoin. Hope everything is OK. 🙏 https://t.co/IasscGItZH
— Johnny_KuCoin (@lyu_johnny) August 19, 2021
Liquid Global offers trading services for significant cryptocurrencies like Bitcoin and Ethereum against the fiduciary currency in dollars (US, Singapore, and Australian), Japanese Yen, and Euros. The company’s specially design enables liquidity to the cryptocurrency community, hence enabling a hassle-free exchange.
Withdrawals
Liquid company users are, however, hopeful that they can make withdrawals as soon as possible. Many with huge investments are crossing their fingers that the matter comes to an end.
On November (18) 2020, Mike Kayamori, Liquid’s Chief Executive, confirmed another breach, claiming that the hacker gained access to its ’employees’ and users’ data.
Future
We hope that going forward the exchange will beef up its cybersecurity to avoid such an occurrence from happening again. Even though this is not the first exchange hack we hope for better security going forward.