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.
Blockchain analytics firm Elliptic is tracking the hack and tallying up the numbers. The firm says $97 million in cryptocurrency has been stolen, according to a blog post.
“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.
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