The hot wallet compromise was followed by an unauthorized transfer of eight types of ERC-20 tokens, including ETH, USDC, LINK, and MKR.
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Liechtenstein-based cryptocurrency exchange LCX has confirmed the compromise of one of its hot wallets after temporarily suspending all deposits and withdrawals on the platform.
The hack was first identified by PeckShield, a company blockchain security, based on the suspicious transfer of ERC-20 tokens from LXC to an unknown Ethereum wallet.
hot wallet compromised? @lcx https://t.co/uL5a7oCFfM
— PeckShield Inc. (@peckshield) January 9, 2022
The exchange soon confirmed the likely hot wallet compromise as it announced the loss of numerous tokens, including Ether (ETH), USD Coin (USDC), and other tokens, including its internal LCX token.
Ethereum blockchain based assets such as ETH, USDC, EURe, LCX and other assets have been moved to the
Hacker ETH Wallet: 0x165402279F2C081C54B00f0E08812F3fd4560A05
2/3
— LCX (@lcx) January 9, 2022
Ethereum blockchain-based assets such as ETH, USDC, EURe, LCX and other assets have been moved to
Hacker’s ETH Wallet: 0x165402279F2C081C54B00f0E08812F3fd4560A05
According to PeckShield’s investigation, LCX lost a cumulative $6.8 million after the hacker transferred successfully eight kinds of tokens which included Sandbox (SAND), Quant (QNT), Chainlink (LINK), Enjin Coin (ENJ) and Maker (MKR) .
At the time of this writing, LCX has not shared any plans to help return the stolen funds. However, the company has confirmed that it will take security measures to protect other wallets and assets:
“During this difficult period, we greatly appreciate the support of our customers, other exchanges, security experts, and the crypto community at large.”
LCX has not yet responded to Cointelegraph’s request for comment.
A recent report by security platform ImmuneFi found that crypto companies incurred losses of more than $10.2 billion in 2021 due to hacks, scams, and other malicious activities.
As Cointelegraph reported, ImmuneFi identified 120 cases of crypto exploits and rug pulls, the highest value hack being Poly Network with USD 613 million, followed by Venus and BitMart with USD 200 million and USD 150 million, respectively.
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