The world’s largest bitcoin options exchange, Deribit says that the firm’s hot wallet was siphoned for nearly $28 million on Nov. 1, 2022.
The hack follows the loss Deribit suffered when it liquidated a few positions tethered to the well known and now-defunct cryptocurrency hedge fund. Deribit said on Wednesday that it halted withdrawals until the exchange is “confident all is safe to re-open.”
The crypto derivatives firm further detailed that the company’s insurance will not be impacted and the loss will be paid by company reserves. Additionally, Deribit said that it also raised the minimum number of confirmations for deposits which caused a delay in crediting funds. Deribit further shared an ethereum address and remarked that some of the hacked funds remained in the wallet. The address is flagged on etherscan.io as it says: “this address is reported to be involved in an exploit draining Deribit’s hot wallet.”
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