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Crypto Exchange Deribit Loses $28 Million In Hot Wallet Hack

Deribit, the largest bitcoin options exchange by market share, was hacked and lost $28 million. Withdrawals were likewise blocked by the corporation.

Crypto Exchange Deribit Loses $28 Million In Hot Wallet Hack 2

The company stated that it is doing regular security tests and has blocked withdrawals, including those from third-party custodians Copper, Clearloop, and Cobo until the platform is certainly safe to re-open.

According to the company, the hacked hot wallets held assets in Bitcoin, Ether, and USDC. Its cold storage addresses, which housed 99% of customer funds, were unaffected.

The exchange is the latest in a long line of cryptocurrency firms to be hacked in recent weeks.

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Harold

CoinCu News

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.