Suspicious Transactions Linked to Mixin Network Hack Involve Huobi and Binance
Rebeca Moen Sep 25, 2023 11:00
Cyvers Alerts has discovered suspicious transactions linked to the recent Mixin Network hack. Two hacker addresses received 51 ETH from an account that had interactions with Huobi Global and Binance. The watchdog has called on these exchanges to help identify the suspicious account as part of ongoing investigations.
Key Takeaways
Internal investigation by Cyvers Alerts reveals suspicious transactions involving Mixin Network hacker addresses.
Two hacker addresses received 51 ETH from an account that interacted with Huobi Global and Binance.
Calls for Huobi Global, Binance, and CZ Binance to help identify the suspicious account.
Investigation Unveils Suspicious Funding
Cyvers Alerts, a cybersecurity watchdog, recently updated its ongoing investigation into the Mixin Network hack that occurred on September 23, 2023. The breach led to a loss of $200 million and temporarily suspended Mixin Network's deposit and withdrawal services. According to Cyvers Alerts, two hacker addresses received 51 ETH from an account with the address 0x1795F0eBDa5A836aE63F28CE546E72de069A8bd2. This account had previous interactions with major cryptocurrency exchanges Huobi Global and Binance.
On September 23, 2023, Mixin Network suffered a major security breach, leading to an estimated loss of $200 million. The attack targeted Mixin's cloud service provider database. Blockchain security firm SlowMist has been enlisted to assist in the ongoing investigation, and a security alert has been issued. Deposit and withdrawal services on Mixin Network are temporarily suspended, although intra-network transfers remain operational. The incident has sparked concern in the crypto community, given the recent spate of similar hacks. Mixin founder Feng Xiaodong is scheduled to address the situation in a public livestream.
The Role of Disperse and USDT Holders
The hackers reportedly used the "disperse" function to send gas fees to USDT holders before transferring the stolen funds to their main address. This method could potentially make tracking the stolen assets more complicated, adding another layer of complexity to the ongoing investigation.
Calls for Exchange Involvement
Cyvers Alerts has publicly called on Huobi Global, Binance, and CZ Binance to assist in identifying the account linked to the suspicious transactions. The involvement of these major exchanges could be crucial in tracing the origins of the funds and possibly recovering some of the stolen assets.
Strengthening Cybersecurity Measures
The Mixin Network hack serves as a stark reminder of the vulnerabilities that exist within the cryptocurrency ecosystem. Cyvers Alerts emphasized the need to strengthen cybersecurity measures to prevent future incidents of this nature.
Summary
Cyvers Alerts has discovered suspicious transactions linked to the recent Mixin Network hack. Two hacker addresses received 51 ETH from an account that had interactions with Huobi Global and Binance. The watchdog has called on these exchanges to help identify the suspicious account as part of ongoing investigations.
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