Deribit just tweeted that hackers have stolen $28 million worth of clients’ money via a Hot Wallet Compromise. According to Deribit’s tweets, the hack happened on November 1st 2022.
Deribit hot wallet compromised, but client funds are safe and loss is covered by company reserves— Deribit (@DeribitExchange) November 2, 2022
Our hot wallet was hacked for USD 28m earlier this evening just before midnight UTC on 1 November 2022.
On the most recent attack, losses were ____.
According to Deribit, the loss will be compensated by the company through its emergency reserve funds, thus avoiding the insurance fund from being affected. The hackers breached BTC, ETH, and stablecoin USDC hot wallets and subsequently isolated them for further research.
“Deribit’s hot wallet was compromised for $28 million earlier this evening just before midnight UTC on November 1, 2022. However, the company’s client funds are safe and the loss will be covered by company reserves.”
All user funds are kept in cold wallets at Deribit. According to the tweet, the malicious hack did not affect Fireblocks and other cold storage addresses. All transactions, including deposits and withdrawals, are halted to conduct further investigations and prevent additional cyberattack damages.
The company also conveyed in its tweet that it was still in a financially stable position to continue normal operations until it resolves the issue. Deribit recommended users not to deposit funds to their Hot wallets until deposits finally opened.
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