November 29, 2021

Volume XI, Number 333

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November 29, 2021

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$97 Million stolen from the Liquid Crypto Exchange!

BankInfoSecurity.com reported that “A hacker stole $97 million in crypto assets from the Japan-based cryptocurrency exchange Liquid, which announced the breach via Twitter late Wednesday and halted deposits and withdrawals.”  The August 19, 2021 report entitled “Hacker Steals $97 Million From Crypto Exchange 'Liquid'” included these comments from Liquid that “the hacker transferred funds to the following addresses, among others:”

•Bitcoin: 1Fx1bhbCwp5LU2gHxfRNiSHi1QSHwZLf7q;

•Ethereum/Energy Web Token: 0x5578840aae68682a9779623fa9e8714802b59946;

•TRON: TSpcue3bDfZNTP1CutrRrDxRPeEvWhuXbp;

•Ripple: rfapBqj7rUkGju7oHTwBwhEyXgwkEM4yby.

Then in a “follow-up blog post, Liquid” said:

…it first detected the unauthorized access early Thursday, local time, and confirmed crypto assets had been moved out of Liquid wallets.

It notes that $16 million worth of Ethereum assets had been frozen "due to the assistance of the crypto community and other exchanges”.

Obviously all crypto exchanges need to be on high alert!

© 2021 Foley & Lardner LLPNational Law Review, Volume XI, Number 239
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About this Author

Peter Vogel, trial attorney, Foley Lardner
Partner

Peter Vogel is renowned as both a trial and transactional lawyer who deeply understands technology, science and intellectual property, and the opportunities and problems they pose for clients. Governments and administrative agencies, as well as major corporations and emerging businesses, rely on Peter to get right to the heart of an information technology or e-discovery dispute; he knows what to expect and how it will play out in the courtroom. This eliminates unproductive rabbit trails and reduces the cost of litigation for all parties. When negotiating agreements for...

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