Crypto exchange Liquid loses $94m in cyberattack

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Crypto exchange Liquid loses $94m in cyberattack

By Will McCurdy

20/08/2021

Cryptocurrency exchange Liquid has lost more than $94 million in a cyberattack according to analysis by blockchain analytics company Elliptic.

The exchange, founded in 2011, operates in 100 countries and had a transaction volume of $133 million during the last 24 hours according to CoinMarketCap data.

Liquid confirmed that it had been compromised, and has suspended deposits and withdrawals for customers, but did not disclose the exact size of the attack.

Elliptic said $45 million of the stolen tokens were converted to cryptocurrency Ethereum via third party decentralised exchanges.

The news comes after decentralised finance platform Poly Network lost $600 million earlier this week in what is thought to have been the largest heist in cryptocurrency history.

The hacker, who calls themself “Mr White Hat”, has returned around $427 million of the stolen digital assets to Poly Network.

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