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In a crypto crime in Japan, hackers stole roughly $100 million.

In a crypto crime in Japan, hackers stole roughly $100 million.

In a crypto crime in Japan, hackers stole roughly $100 million.
City in Japan

In a crypto crime in Japan, a big Japanese crypto exchange firm named ‘Liquid’ has been hacked. The hackers stole roughly $100 million from the company.

The company said that some of its corporation’s digital currency wallets have been compromised.

This is the second large cryptocurrency theft in the last few days.

More recently, in a similar incident, digital crypto network ‘Poly Network’ also became the target with $600 million got stolen.

The ‘Liquid’ declared on social media “Twitter” that they regret to inform us that the warm wallets of the company have been hacked, and they are transferring their assets to the cold wallet.

Warm wallets are generally online and meant to make it easier for users to access their cryptocurrency. Unlike a warm wallet, ‘cold’ wallets are offline and more difficult to access, hence more secured.

Hackers stole roughly $100 million

The blockchain analytic firm, Elliptic, estimated nearly $97 million in cryptocurrencies had been stolen. Bitcoin and Ethereum tokens are among the most that got stolen.

Liquid said it was tracking the stolen coins’ movements and collaborating with other exchanges to freeze and retrieve the money.

The Japanese crypto exchange ‘Liquid’ was established in 2014 and now functions in more than 100 nations and serves millions of customers worldwide. Based upon their daily trading volumes, Liquid is one of the top 20 largest crypto exchange in the world as per the coinmarketcap stats.

More recently, a hacker exploited a hole in the system of blockchain of Poly Network, stealing $600 million. The Poly Network urged the hacker to return the stolen fund. Since then, the hacker has returned more than $427 million in assets.

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