Mixin Network, a decentralized cross-chain protocol, announced on Saturday that it had fallen victim to an approximate $200 million hack attack. Following this, its founder, Feng Xiaodong, stated that as a result of this attack, only half of the user assets remained secure and suspended withdrawal operations.
20 Million Dollar Prize
Additionally, Mixin Network announced that following the hack incident, it is offering a $20 million bug bounty reward to the hacker for the return of the remaining funds.
“This incident is extremely unfortunate for Mixin Network. However, the safety and protection of our users’ assets are our top priority. Therefore, we are offering a $20 million bug bounty reward to the individual responsible for the exploitation, in exchange for returning the remaining funds.”CEO of Mixin Network
Lastly, Mixin Network stated that they are in the investigative phase to learn more details about the incident. They also mentioned that they will continue to work on enhancing security measures to prevent similar incidents in the future.