Hackers siphon nearly $8 million from LCX’s hot wallet
Hackers breached the hot wallet of the Liechtenstein-registered bitcoin exchange LCX. The company said that during the attack the ERC-20 tokens were stolen. For the duration of the investigation, deposits and withdrawals on the platform were suspended.
Ethereum blockchain based assets such as ETH, USDC, EURe, LCX and other assets have been moved to the
Hacker ETH Wallet: 0x165402279F2C081C54B00f0E08812F3fd4560A05
2/3
— LCX (@lcx) January 9, 2022
The LCX team assessed the damage from the hackers’ actions at $7.94 million. A further $0.7 million in digital assets was frozen. According to the report, the incident did not affect the other wallets of the exchange. Users were advised to refrain from depositing funds. The company notified law enforcement authorities and enlisted the analytics firm Elliptic to assist the investigation.
ℹ️ Incident update: At 11:23 PM CET on Jan. 9th 2022, LCX’s Technology team detected unauthorized access of one crypto wallet. A total of approx. 7.94M USD of crypto assets were stolen. 0.7M USD have been frozen. All other LCX wallets are not impacted. https://t.co/lqH81w69OV
— LCX (@lcx) January 9, 2022
According to PeckShield analytics, hackers withdrew assets totaling $6.8 million, including $3.43 million in USD Coin (USDC) and $2.22 million in LCX’s native token.
Estimated loss @lcx: $6.8M in total. Here is the breakdown of the lost funds. pic.twitter.com/tUvpPlMbJN
— PeckShield Inc. (@peckshield) January 9, 2022
According to on-chain data, the majority of the stolen tokens had already been sent to the Tornado Cash mixer address. At the time of writing, the attackers’ wallet held just over $1.07 million in ETH and LCX.
The exchange did not indicate plans to return the stolen funds. The platform team emphasised that user funds remain safe.
In December 2021, hackers withdrew from the hot wallets of the Singapore-based exchange AscendEX more than $77 million in cryptocurrency. In the same month, attackers breached the Cayman Islands-registered BitMart platform — the damage amounted to over $150 million.
In the past decade, the cumulative losses of crypto platforms and their users from hacks and scams have exceeded $12 billion, according to Crystal Blockchain.
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