Elliptic Exposes Cybercriminals Behind Mixin Network Hack
A blockchain forensics company, Elliptic, has revealed the identity of the cybercriminals responsible for the recent Mixin network hack. These criminals currently have control over more than 90% of the USDT tokens associated with The Project Collectibles.
Details of the Hack
In a blog post on Tuesday, September 26, Elliptic’s senior Crypto threat analyst, Arda Acartona, shared the company’s analysis of the stolen funds. According to their findings, the hackers now have 93% control of USDT for Mixin ($23.6 million), 71% of Ethereum ($95.3 million), and 9% of Bitcoin ($23.7 million).
Attempts at Laundering the Stolen Funds
Although the stolen money has not been laundered yet, Elliptic discovered that the hackers have been sending the stolen USDT tokens through Uniswap in an attempt to replace them with DAI, an algorithmic stablecoin.
Mixin’s Response
In a post on Wednesday, September 27, Mixin did not directly address Elliptic’s findings but reassured its users that the losses from the hack are not as significant as initially estimated. The project also expressed optimism about the situation. However, Mixin advised users to refrain from certain activities on the Mixin network to prevent further losses.
Mixin’s Reward Offer
Mixin has already reached out to the hackers via Ethereum and offered them a $20 million reward for discovering the bug that led to the hack.
Previous Hack and Related News
On September 25, Mixin experienced a hack that resulted in the loss of $200 million worth of assets. Additionally, Ronin hackers transferred some of the stolen funds from Ether to the Bitcoin network.
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