Mixin Network suspends services after hack involving $200 million in funds

Mixin Network, a decentralized wallet service, temporarily suspended deposit and withdrawal services following attacks by hackers involving some $200 million in funds, the company said today.

In a post on X, formerly known as Twitter, Mixin Network said that blockchain security company SlowMist has stepped in to assist with an investigation. SlowMist said in a separate post that the Mixin Network cloud service provider database was attacked on Saturday.

"After discussion and consensus among all nodes, these services will be reopened once the vulnerabilities are confirmed and fixed. During this period, transfers are not affected," Mixin said, adding that its founder Feng Xiaodong will discuss the exploit at a livestream in Mandarin at 1 p.m. Hong Kong time today.

During that session, Xiaodong said that, for now, the team "can only ensure at least half of the assets are secure."

XIN, Mixin’s token, fell sharply this morning following the announcement — down some 8% at the time of writing to $195, according to CoinGecko data.

Update to include Xiaodong's comments made during the livestream.