Deribit exchange hacked for $28 million

On Nov. 1, unknown individuals hacked into the hot wallet of the Deribit cryptocurrency derivatives exchange and withdrawn $28 million, according to a representative of the platform.

“The Deribit hot wallet has been compromised, but user funds are safe and the losses are being covered by the company’s reserves,” the report said.

Due to the peculiarity of distinguishing between own funds and client funds, the exchange managed to save assets – 99% of the latter are stored in cold wallets.

Deribit has suspended withdrawals and withdrawals, including through third-party custodians Copper, Clearloop and Cobo. The platform will process the deposit sent and credit it to the account “after the required number of confirmations”. However, representatives of the exchange asked users not to send new requests.

According to PeckShield analysts, the hackers stole around 9,080 ETH ($14.2 million) and around 691 BTC ($14.1 million).

Recall that in September, Deribit closed a $40 million funding round, valuing the platform at $400 million, a figure that has fallen more than 5x since the company raised $100 million in August 2021 ($2.1 billion). ).

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