In yet another incident exchange breach, hackers have stolen crypto assets worth $100 million from a Japanese cryptocurrency exchange, Liquid. The Tokyo-based cryptocurrency exchange has said that hackers have made away with a huge amount of crypto coins and they got to know about the hack only after they “detected unauthorized access of some of the crypto wallets managed at Liquid”.
“Our investigators are also aiding Liquid with tracking the stolen funds,” they said in a statement. Earlier last week, in a major breach of security, hackers stole about $600 million worth of crypto assets from Poly Network.
However, the hackers have been returning the stolen assets and have reportedly returned over 60% of the coins.
Following the breach, crypto exchange Liquid has said that they have restricted any withdrawals from the exchange wallet. However, their traders can continue trading.
These incidents expose the vulnerabilities of cryptocurrency exchanges. At cryptoupdate.io we always recommend users not store large amounts of cryptocurrencies on their exchange wallets. It is always better to invest in a hardware wallet and store valuable crypto assets offline.