BREAKING: $28M DeriBit Hack — HyperBC ‘Guarantee 100% Insurance’
Major Cryptocurrency options and futures exchange “Deribit” suffered a $28M hack of funds siphoned from its Hot Wallet.
Deribit is ‘a cryptocurrency futures and options exchange, with its headquarters located in Panama City, Panama.’
Deribit started as a fully dedicated BTC trading platform, however, since then, ETH contracts have been added, and they claim more currency contracts will come.
On Wednesday, the 2nd of November 2022, around $28M was stolen from their platform, consisting mainly of ~9,080 $ETH ($14.2M) and ~691 $BTC ($14.1M).
They have announced that client assets are safe.
Deribit also emphasized that their client’s funds are not lost, particularly those stored under Fireblocks or Cold Storage addresses.
The exchange has protocols to store 99% of the client funds under cold storage, specifically to avoid these types of security incidents.
The exchange has, however, currently halted withdrawals as due to the investigation and on-going security checks. Deposits already sent will be processed, though Deribit have stated that delays can be expected.
The number of confirmations required for transactions has been increased in light of the hack, once cleared, funds will be credited to accounts. Users are requested not to send further deposits until the security checks are complete.
Deribit Blog not available for Comment
About 10 million Deribit was stolen — the official blog of Deribit, https://insights.deribit.com was not available for comment as the blog displayed a critical error message.
This (below) was the address of the malicious hacker that stole the funds from the Deribit exchange. HyperBC’s AML mechanism proactively monitors for such transfers to malicious addresses, denies the transactions and protects you from such security incidents.
Moon Zhang, CEO of HyperBC would like to highlight that HyperBC custody provides guarantee 100% against cyber crime, for all accounts.
HyperBC is a world leader in digital asset custody, with $1B+ secured for millions of clients, and a pioneer in crypto payment solutions, driving digital transformation for thousands of businesses across the globe.
Transactions on HyperBC are secured in a Trusted Execution Environment, run on a dedicated Intel SGX chipset, the industry leader for blockchain data execution and security. This is the crux of our Multi Party Computation stack, which itself is the bedrock of HyperBC security. It’s because of carefully curated protocols that we can afford to guarantee your funds are safe.
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