Deribit crypto derivatives exchange was hacked for $28 million

On November 1, unknown persons hacked the hot wallet of the Deribit cryptocurrency derivatives exchange and withdrew $28 million. This was reported by representatives of the platform.

“Deribit’s hot wallet is compromised, but users’ funds are safe, and losses are covered by the company’s reserves,” the report says.

The exchange managed to preserve assets due to the peculiarities of the differentiation of its own and client funds – 99% of the latter are stored on a cold wallet.

Deribit has temporarily suspended withdrawals and withdrawals, including through third-party custodians Copper, Clearloop and Cobo. The sent deposits will be processed by the platform and credited to the accounts “after the required number of confirmations”. However, representatives of the exchange asked users not to send new requests.

According to PeckShield analysts, hackers stole ~9080 ETH ($14.2 million) and ~691 BTC ($14.1 million).

Recall that in September Deribit closed a $40 million funding round. The platform’s valuation was $400 million — the figure has decreased more than fivefold ($2.1 billion) since August 2021, when the firm raised $100 million.

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