A Crypto Heist of Nearly $700m

By Al Mayadeen
Source: Agencies
21 Aug 2021 20:33
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Hackers managed to steal $100 million worth of digital currencies from Liquid Inc., and another $600 million worth of cryptocurrency from Poly Network.

Hackers steal $100 million worth of cryptocurrency from a Japanese company

Leading Japanese cryptocurrency exchange company Liquid Inc. has been hit by hackers, with almost $100m stolen.

This was the second major theft of cryptocurrencies to take place in recent days.

Last week, the digital token platform Poly Network was at the center of a $600m heist.

"We are sorry to announce that #LiquidGlobal warm wallets were compromised; we are moving assets into the cold wallet," the company said on Twitter.

So-called 'warm' or 'hot' digital wallets are usually online and designed to allow users to access their cryptocurrencies in a more feasible manner, while 'cold' wallets are offline, making them harder to access and usually more secure.