Japanese cryptocurrency exchange Liquid Global just suffered a massive hack, losing control of tens of millions of dollars in top crypto assets, including Bitcoin (BTC), Ethereum (ETH), Tron (TRX), and XRP.
“This includes $45 million in Ethereum tokens, which are currently being converted into Ether using decentralised exchanges (DEXs) such as Uniswap and SushiSwap. This enables the hacker to avoid having these assets frozen – as is possible with many Ethereum tokens.”
After discovering the flash hack, Liquid quickly informed the public on Twitter with a list showing the addresses where the assets were sent and further revised the list two hours later to include Tron and XRP.
“Important Notice Update:
The following assets had been transferred to the hacker’s following addresses:
… We will continue to work with the community to take the appropriate actions.
In April, Liquid Global chose crypto lending platform Celsius Network as the company’s crypto custodian. Since the hack, Celsius CEO Alex Mashinky told his 117,800 Twitter followers that Celsius’ assets and accounts were safe amid the breach on Liquid.
Liquid isn’t the only Japan-based cryptocurrency exchange to undergo a massive hack.
In 2014, the infamous Tokyo-based crypto exchange Mt. Gox came crashing down after a hacker seized 850,000 BTC from the platform.
More recently, crypto exchange Coincheck was hacked in 2018 when hundreds of millions of dollars in XRP and NEM tokens were stolen.
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/Bohbeh