LCX loses $6.8M in a hot wallet compromise over Ethereum blockchain

2 years ago

The blistery wallet compromise was followed by an unauthorized transportation of 8 types of ERC-20 tokens including ETH, USDC, LINK and MKR.

LCX loses $6.8M successful a blistery wallet compromise implicit Ethereum blockchain

The hack was archetypal identified by PeckShield, a blockchain information company, based connected the suspicious transfer of ERC-20 tokens from LXC to an chartless Ethereum (ETH) wallet.

Liechtenstein-based crypto speech LCX has confirmed the compromise of 1 of its blistery wallets aft temporarily suspending each deposits and withdrawals connected the platform.

hot wallet compromised? @lcx https://t.co/uL5a7oCFfM

— PeckShield Inc. (@peckshield) January 9, 2022

The probable blistery wallet compromise was soon confirmed by the speech arsenic it announced the nonaccomplishment of galore tokens including ETH, USD Coin (USDC) and different tokens including its in-house LCX token.

Ethereum blockchain based assets specified arsenic ETH, USDC, EURe, LCX and different assets person been moved to the

Hacker ETH Wallet: 0x165402279F2C081C54B00f0E08812F3fd4560A05

2/3

— LCX (@lcx) January 9, 2022

Based connected PeckShield’s investigation, LCX mislaid a cumulative of $6.8 cardinal aft the hacker successfully transferred 8 types of tokens that included Sandbox (SAND), Quant (QNT), Chainlink (LINK), Enjin Coin (ENJ) and Maker (MKR).

At the clip of writing, LCX has not shared immoderate plans to assistance instrumentality the stolen funds. However, the institution has confirmed to instrumentality information measures to support different wallets and assets:

“During this hard period, we greatly admit the enactment from our customers, different exchanges, information experts, and the broader crypto community.”

LCX has not yet responded to Cointelegraph’s petition for comment.

A caller study from information level ImmuneFi recovered that crypto companies incurred losses of implicit $10.2 cardinal successful 2021 owed to hacks, scams and different malicious activities.

As Cointelegraph reported, ImmuneFi identified 120 instances of crypto exploits and rug-pulls, the highest-valued hack being Poly Network astatine $613 million, followed by Venus and BitMart with $200 cardinal and $150 million, respectively.

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