Mixin Network, a decentralized wallet service, has temporarily suspended deposit and withdrawal operations after being attacked by hackers causing losses of up to 200 million USD, according to an official announcement from Twitter today.
Mixin Network said that Mixin Network's cloud service provider database was attacked on Saturday, and blockchain security company SlowMist is currently assisting in the investigation of the incident.
After a meeting and consensus between network nodes, the company decided to suspend the service until the security vulnerabilities were identified and fixed. Notably, during this period, money transfer transactions are not affected.
Feng Xiaodong, founder of Mixin Network, announced that he will host a livestream at 3pm Hong Kong time today, to explain the security vulnerability of the incident.
Mixin Network is currently conducting a detailed investigation of the attack and is committed to restoring service after successfully patching the security holes. The incident affected the price of the XIN Token , leading to a significant drop.