Mixin Kernel Faces Massive Loss in Security Breach

Mixin Network, a prominent blockchain platform, has fallen victim to a major security breach that has resulted in a staggering loss of approximately $200 million in assets from its mainnet. This breach occurred during the early hours of September 23, 2023, Hong Kong time, and has sent shockwaves through the blockchain community.

Mixin Network has acted swiftly in response to this alarming breach. The company has taken immediate steps to address the situation by enlisting the assistance of both Google and the renowned blockchain security firm, SlowMist Team. Together, they will conduct a thorough investigation to assess the extent of the breach and identify the vulnerabilities that allowed this intrusion to occur.

[Announcement] In the early morning of September 23, 2023 Hong Kong time, the database of Mixin Network’s cloud service provider was attacked by hackers, resulting in the loss of some assets on the mainnet. We have contacted Google and blockchain security company @SlowMist_Team…
— Mixin Kernel (@MixinKernel) September 25, 2023

Temporary Suspension of Services

As a precautionary measure, Mixin Network has temporarily halted all deposit and withdrawal services on its platform. This decision was made following extensive deliberations and a unanimous agreement reached among all network nodes. These services will remain suspended until the vulnerabilities are conclusively identified, addressed, and certified as secure. Importantly, the suspension of deposit and withdrawal services will not affect users’ ability to conduct transfers on the platform during this period.

Path to Recovery and Transparency

Mixin Network has pledged to keep the community fully informed about their plans to recover the lost assets. Founder Feng Xiaodong will provide a comprehensive account of the incident through a live Mandarin livestream scheduled for 13:00 HKT on September 25, 2023. This livestream will serve as a platform to update the community on the actions being taken to resolve the situation and implement safeguards against future breaches. An English summary of the live stream will be made available to cater to international audiences.

In a heartfelt statement, Mixin Network expressed profound regret for the security breach and the resulting losses incurred by its users. The company assured its community that it is committed to minimizing these losses and fortifying the platform’s security. Mixin Network also extended its sincere gratitude to its users for their unwavering support during this challenging period.

Source: https://blockchainreporter.net/mixin-kernel-faces-massive-loss-in-security-breach/