{"id":14224,"date":"2024-06-11T10:10:09","date_gmt":"2024-06-11T07:10:09","guid":{"rendered":"https:\/\/forklog.com\/en\/lykke-exchange-halts-operations-following-22-million-hack\/"},"modified":"2024-06-11T10:10:09","modified_gmt":"2024-06-11T07:10:09","slug":"lykke-exchange-halts-operations-following-22-million-hack","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/lykke-exchange-halts-operations-following-22-million-hack\/","title":{"rendered":"Lykke Exchange Halts Operations Following $22 Million Hack"},"content":{"rendered":"<p>The British cryptocurrency exchange Lykke has ceased all operations due to a &#8220;security incident&#8221; resulting in a $22 million loss.\u00a0<\/p>\n<p>The first to notice the potential breach was on-chain researcher SomaXBT. According to his data, the attack occurred on June 4, and two days later, a message appeared on the <a href=\"https:\/\/www.lykke-exchange.co.uk\/\">platform&#8217;s website<\/a> announcing a halt in operations &#8220;until further notice.&#8221;\u00a0<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">on June 4, <a href=\"https:\/\/twitter.com\/lykke?ref_src=twsrc%5Etfw\">@lykke<\/a> CTX got exploited and lost $19.5 million worth crypto assets but team still trying to hide this fact <\/p>\n<p>BTC (158 btc)<br \/>bc1qt64756h9aylujm9tpk826zndegpxtngmr6eqad <\/p>\n<p>ETH (2161 eth)<br \/>0x9172a72f5009ca609833819763A2722e53806443 <a href=\"https:\/\/t.co\/bT4TaQLukY\">pic.twitter.com\/bT4TaQLukY<\/a><\/p>\n<p>\u2014 SomaXBT (@somaxbt) <a href=\"https:\/\/twitter.com\/somaxbt\/status\/1799812652610511043?ref_src=twsrc%5Etfw\">June 9, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Together with MetaMask developer Taylor Monahan, the researcher identified four wallets associated with the hacker in the Bitcoin and Ethereum networks.<\/p>\n<p>According to <a href=\"https:\/\/etherscan.io\/address\/0x27744489b2607195e59ad323b8b5853b7da32b4c#tokentxns\">on-chain data<\/a>, the perpetrator quickly converted ETH into the stablecoin DAI and distributed BTC across several addresses.\u00a0<\/p>\n<p>The total trading volume on Lykke over the past month was approximately $2.5 million. Its users currently cannot withdraw assets from the platform, with some reporting zero balances.\u00a0<\/p>\n<blockquote class=\"twitter-tweet\" data-conversation=\"none\">\n<p lang=\"en\" dir=\"ltr\">Hey <a href=\"https:\/\/twitter.com\/lykke?ref_src=twsrc%5Etfw\">@lykke<\/a> \u2014 what is going on with your exchange? Trading seems not possible, withdrawal and deposit are not possible. There are rumors that the exchange got hacked? <a href=\"https:\/\/twitter.com\/hashtag\/lykke?src=hash&#038;ref_src=twsrc%5Etfw\">#lykke<\/a> <a href=\"https:\/\/twitter.com\/hashtag\/bitcoin?src=hash&#038;ref_src=twsrc%5Etfw\">#bitcoin<\/a> <a href=\"https:\/\/twitter.com\/hashtag\/exchange?src=hash&#038;ref_src=twsrc%5Etfw\">#exchange<\/a> <a href=\"https:\/\/twitter.com\/hashtag\/possiblehack?src=hash&#038;ref_src=twsrc%5Etfw\">#possiblehack<\/a> <a href=\"https:\/\/twitter.com\/hashtag\/crypto?src=hash&#038;ref_src=twsrc%5Etfw\">#crypto<\/a><\/p>\n<p>\u2014 sponge-investigator (@spongeinvestiga) <a href=\"https:\/\/twitter.com\/spongeinvestiga\/status\/1799321680277602631?ref_src=twsrc%5Etfw\">June 8, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Meanwhile, the exchange&#8217;s representatives have not provided official comments, aside from a notice on the website and an email notification about the suspension of operations.\u00a0<\/p>\n<p>In a comment to <a href=\"https:\/\/www.dlnews.com\/articles\/defi\/little-known-crypto-exchange-suffers-22-million-dollar-hack\/?utm_source=twitter&#038;utm_medium=organic_social&#038;utm_campaign=\">DLNews<\/a>, Lykke CEO Richard Olsen stated that the company is &#8220;still investigating the causes of the incident.&#8221;\u00a0<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>&#8220;In the meantime, you can be assured that your funds are safe. Lykke is a diversified company with strong capital reserves,&#8221; he clarified.\u00a0<\/p>\n<\/blockquote>\n<p>Back in late May, the Japanese cryptocurrency exchange DMM Bitcoin <a href=\"https:\/\/forklog.com\/en\/news\/dmm-bitcoin-exchange-hacked-for-305-million\">lost $305 million<\/a> in a hack. The platform intends to seek financial support to compensate users.\u00a0<\/p>\n<p>In June, the decentralized exchange Velocore was attacked. A hacker withdrew approximately $6.8 million in Ethereum from pools in the L2 networks Linea and zkSyncEra.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The British cryptocurrency exchange Lykke has ceased all operations due to a &#8220;security incident&#8221; resulting in a $22 million loss.\u00a0 The first to notice the potential breach was on-chain researcher SomaXBT. According to his data, the attack occurred on June 4, and two days later, a message appeared on the platform&#8217;s website announcing a halt [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":14223,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1166,44],"class_list":["post-14224","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-centralized-exchanges-cex","tag-cybercrime"],"aioseo_notices":[],"amp_enabled":true,"views":"66","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/14224","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=14224"}],"version-history":[{"count":0,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/14224\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/14223"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=14224"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=14224"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=14224"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}