Largest Crypto Options Exchange Suffers $28 Million Hack
Popular crypto options and futures exchange Deribit has suffered a hack in which around $28 million were stolen from a hot wallet.
The exchange says that customer funds are safe, but any losses that could have occured will be covered by the company’s reserves.
The company said on Twitter that it is conducting ongoing security checks and customer assets have not been affected, but withdrawals have been temporarily suspended.
Deribit hot wallet compromised, but client funds are safe and loss is covered by company reserves
Our hot wallet was hacked for USD 28m earlier this evening just before midnight UTC on 1 November 2022.
— Deribit (@DeribitExchange) November 2, 2022
“The company’s procedure is to keep 99% of our users’ funds in cold storage to limit the impact of this type of event. The hacker attack has been isolated and quarantined in our BTC, ETH and USDC hot wallets” Deribit wrote on Twitter.
READ MORE: Google Partners up With Coinbase for Crypto Payments
Deribit becomes the latest in a long list of crypto companies that have been targeted by malicious hacks in recent weeks. October was the worst month in this regard historically with over $718 million stolen in the first two weeks alone.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
