Over $80 million worth of digital assets has been removed from Liquid Global exchange. Kucoin has responded by blacklisting the addresses that received stolen funds.
Japanese exchange Liquid has been hacked with about $80 million in digital assets moved off the platform.
The exchange confirmed the security breach in an August 19 tweet, with Liquid revealing the wallet addresses implicated in the breach. The exchange noted that only it’s warm wallets were affected, adding that its assets are currently being moved into cold storage.
Withdrawals and deposits have been suspended on Liquid, with the exchange promising to provide regular updates as its investigations unfold.
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.
— Liquid Global Official (@Liquid_Global) August 19, 2021
While Liquid is yet to confirm exactly how much has been taken, TechynoWorld has identified that more than 107 BTC, 9,000,000 TRX, 11,000,000 XRP, and almost $60 million worth of ETH and ERC-20 tokens appear to have been taken by the hackers.
There are unconfirmed reports that the Ethereum wallet compromised held deposits from crypto yield provider Celsius Network. In April, Celsius announced that it had integrated with Liquid to offer the exchange’s customers a compounding return on digital asset purchases.
The announcement noted that Liquid became one of the first fiat-to-cryptocurrency exchanges to support Celsius’s native CEL token in 2019, stating that the two firms “have continued to grow their partnership” since.
Another exchange, KuCoin, promptly responded to the hack by blacklisting the addresses involved in the hack, according to a tweet from the exchange’s CEO, Jonny Lyu.
— Johnny_KuCoin (@lyu_johnny) August 19, 2021
In November 2018, Liquid suffered a breach that saw its users’ personal information exposed to hackers, possibly including names, addresses, and passwords.