The company confirmed that a wallet it was holding was drained of the equivalent of $1.5 billion in ethereum. It may be the largest theft of any kind, ever, at least in nominal terms.
In a livestream, he said they were getting a bridge loan and I worry there will be a run on the exchange.
Some online reports have traced the attack to North Korea and the same group behind the Axie Infinity Ronin Bridge hack in 2022. That was for $620 million in ETH and USDC.
In any case, the news hasn't helped crypto sentiment with bitcoin down 3% today and ethereum down 4%. Considering the news, that's not bad. There was a time when we would see both down more than 10% on this kind of thing.
In terms of the loss, it would be comperable to the Iraqi central bank robbery in 2002, which included the looting of about $920 million by Saddam Hussein's son. Adjusted for inflation, that would be about $1.5 trillion today.
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