Business World

Japanese crypto exchange hit by hackers, nearly $100 million stolen

Liquid, a Japanese cryptocurrency exchange company was hit by hackers, with almost $100 million stolen.

The firm said some of its digital currency wallets were “compromised.” This is the second major theft of cryptocurrencies to take place in recent days. Last week, digital token platform Poly Network was at the centre of a $600 million heist.

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

So-called ‘warm’ or ‘hot’ digital wallets are usually based online and designed to allow users to access their cryptocurrencies more easily, while ‘cold’ wallets are offline and harder to access and therefore usually more secure.

Blockchain analytics firm Elliptic said its analysis showed that around $97 million in cryptocurrencies had been taken, with Bitcoin and Ethereum tokens amongst the haul.

Liquid has said that it was tracing the movement of the stolen cryptocurrencies and working with other exchanges to freeze and recover the assets.

Founded in 2014, Liquid operates in over 100 countries and serves millions of customers around the world.

It is one of the world’s top 20 biggest cryptocurrency exchanges by daily trading volumes, according to CoinMarketCap data.