Crypto Thieves Steals $ 97 Million From Japanese Stock Exchange

One of the main talking points about cryptocurrency, and why its supporters think so much, concerns its relative safety. With its reliance on identity verification and unique identifiers, crypto should be virtually impossible to steal. (You would think, anyway.) And so, the idea of ​​a cryptocurrency heist would be something that is theoretically impossible. (Again, you’d think so.) And yet, here we are in August, on the other side of not one but two high-profile cryptocurrency heists. Which begs the question: what exactly is going on?

Earlier this month, hackers stole more than $ 600 million in cryptocurrency by exploiting a security hole, then returned around half of the amount. And now, Engadget reports that an additional $ 97 million in crypto has been stolen from Liquid, a cryptocurrency exchange based in Japan.

According to a Liquid blog post, the exchange’s security team first noticed something was wrong Thursday morning. Specifically, they “detected unauthorized access to some of the crypto wallets managed by Liquid”. Once they noticed the problem, they temporarily stopped all crypto withdrawals. Since then, they have worked to strengthen the security of their infrastructure.

The Engadget article notes that Liquid is working to identify and recover the cryptocurrency in question. And while a virtual currency heist seems to come out of a William Gibson novel, it’s a growing concern for crypto exchanges – and an alarming reminder of what one or more hackers can do.

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