Mixin Network, recently hacked for a reported $200 million, offered the exploiter a $20 million “bug bounty” reward to return the funds.
were also impacted by security breaches at one of their vendors. It remains unclear if the incidents are related, with Nansen urging the third-party vendor to disclose the breach publicly.
If the funds are not returned, the Mixin Network exploit could sit among the largest DeFi exploits to date, according to The Block’s data dashboard., Mixin founder Feng Xiaodong said the team"can only ensure at least half of the assets are secure," for now."No matter what your assets are — whether it's bitcoin or ether — we will ensure that half of it is unaffected. We’re trying to find a way to recover the compromised money, but that is very difficult.
For the rest of the assets, Feng said Mixin is considering issuing"bond tokens" for users to claim, with plans for a future buyback. Mixin's token, XIN, is down around 25% following the hack, currently trading at $163.37, according to CoinGecko data.© 2023 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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