In Brief:Â
- LCX suffered a cyber-attack through an unauthorized crypto wallet and lost $7.94 million worth of ERC-20 tokens.
- Temporarily, The exchange has suspended Withdrawal and deposit services.Â
- The exchange has frozen 611,000 EURe tokens on-chain movement.
Crypto Exchange, LCX announced that one unauthorized crypto wallet has entered into the system without permission and stole $7.94 million worth of digital assets. Temporarily, The exchange has suspended all withdrawal and deposit services on its platform.
Firstly, Peckshield has spotted detection of the hack, in which the hacker has transferred various ERC-20 tokens from LCX exchange to an unknown Ethereum wallet.
In the list of stolen tokens, Ether, USD coin, Sandbox (SAND), Quant (QNT), Chainlink (LINK), Enjin Coin (ENJ), and Maker (MKR). are included. As per the Peckshield statement, the total loss of funds in USD is around $7.4 million after the successful transfer of eight types of tokens.
At the time of writing, LCX has don’t reveal any plan to return or compensate for lost tokens at all. As a countermeasure, LCX has frozen 611,000 EURe tokens with the help of its partner, Monerium. However, the company has assured the security of the rest of the wallets.
“During this difficult period, we greatly appreciate the support from our customers, other exchanges, security experts, and the broader crypto community.
Before this lending protocol, bZx has compromised through a private key and lost $55 million in various tokens.
