Mixin Network, a decentralized wallet service, has temporarily suspended deposit and withdrawal services due to a hack involving approximately $200 million in funds. The company announced this suspension on social media platform X (formerly Twitter) and stated that they are working with the blockchain security company SlowMist to investigate the incident.
According to SlowMist, the Mixin Network’s cloud service provider database was attacked on a Saturday. Mixin Network has reassured users that transfers are not affected during this suspension and that services will be reopened once vulnerabilities are confirmed and fixed.
The founder of Mixin Network, Feng Xiaodong, is expected to explain the exploit in a livestream in Mandarin to provide more clarity on the situation.