CyberNews Briefs

Crunch Time for Liquid as Crypto Exchange Loses $97m to Hackers

Tokyo-based cryptocurrency exchange company Liquid has reportedly lost $97 million due to a cyberattack. Liquid revealed the incident yesterday evening, stating that warm wallets were compromised. The company reported that they were moving its assets into the cold wallet while it investigated the attack. Liquid also promised to provide regular updates to the situation as it progresses. For now, customers will not be able to make deposits and withdrawals. The cyber attackers allegedly stole almost $100 million in various currencies, such as Ether, XRP, Bitcoin, Tron, and Stablecoins, from Liquid.

The total includes roughly $45 million in Ethereum tokens, which are currently likely being converted into Ether using decentralized exchanges to enable the hacker to avoid having the assets frozen. Liquid boasts 800,000 customers, 100 supported countries, 80 listed digital currencies, and a daily trading volume of over $1 billion in 2021. Liquid is therefore an impactful player in the cryptocurrency market.

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