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Shiba Inu Monitors Movement of Billions of SHIB by Mixin Amid $200 Million Hack

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In a surprising development, Mixin Network, a Hong Kong-based peer-to-peer transactional network for digital assets, has garnered significant attention due to a substantial security breach.

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This incident, quickly labeled as the most significant hack of 2023, involved a breach of the network’s cloud service provider’s database, resulting in losses estimated at around $200 million.

As per information obtained from Etherscan, the accounts controlled by the hacker currently possess a remarkable $142 million in assets. This includes 59,854 Ethereum (ETH) with an estimated value of $96.82 million, 23.55 million DAI, and 891 Bitcoin (BTC).

In light of the security breach, Mixin Network promptly launched an asset assessment procedure. During this audit, Shiba Inu tokens came into focus when an astonishing 61.8 billion SHIB, valued at $448,000, were moved to a fresh wallet. Notably, there are presently no Shiba Inu tokens left in the previous Mixin addresses, and their combined balance amounts to $1.12 million. In contrast, the new address already showcases a portfolio valued at a minimum of $13.7 million.

Source: Etherscan 

As the inquiry progresses, Mixin Network has extended an extraordinary proposition to the hackers. In an effort to recover the pilfered funds, the network is prepared to provide a reward of $20 million, recognizing the existence of a vulnerability in what was initially conceived as a “decentralized” blockchain.

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Moreover, there have been conjectures regarding the potential involvement of the FBI in the matter, stemming from the suspicion that the audacious attack may have been orchestrated by North Korean hackers.


Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.

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  • Asad

    Asad is a dynamic and talented cryptocurrency content author who brings a wealth of knowledge and enthusiasm to every article. With a deep understanding of blockchain technology and a passion for digital assets, Asad's writing is both informative and engaging.

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