Deribit losses $28 million in an attack

Bitcoin options exchange Deribit lost $28 million in an attack hours ago.

Deribit, Major Bitcoin Options Exchange A few hours ago it announced that it had been exploited.

The exchange revealed that its hot wallet was hacked and the attackers stole $28 million from it.

Deribit has informed users that while their wallets are in jeopardy, their clients’ funds are safe and any losses are covered by the company’s reserves. The crypto exchange said:

“Client assets, Fireblocks, or cold storage addresses will not be affected. It is company procedure to keep 99% of user funds in cold storage to limit the impact of this type of event. Hacking is segregated and quarantined in BTC, ETH and USDC hot wallets.”

Deribit assures users that it performs continuous security checks. The security checks meant Deribit had to suspend withdrawals until it was confident everything was safe to resume, including third-party custodians Copper Clearloop and Cobo.

Deposits that have already been submitted will continue to be processed and credited to your account after the required number of verifications, the team added.

Additionally, Deribit said it has raised a minimum number of confirmations at this time, which is why the funds are being delayed. Therefore, the team urged users not to send new deposits until they open their wallets again.

The crypto exchange also added that the insurance fund would not be affected as losses would be paid by the company’s reserves. Assured users.

This latest exploit comes after a security firm pec shield revealed A few hours ago, hacking losses in the cryptocurrency space reached $3 billion year-to-date.

The report revealed that October was the month with the highest number of exploits in the crypto space, with 53 protocols being defunded by hackers.

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