Mixin Scrambles After $200M Hack, CEO Pitches Bond Tokens As Temporary Solution
Portfolio Pulse from Murtuza Merchant
Mixin Network, a decentralized wallet service provider, is scrambling to address a $200 million hack. The company's founder, Feng Xiaodong, has assured that half of the users' assets will be protected, but the fate of the other half remains unclear. In an attempt to recover the compromised money, Mixin is considering issuing 'bond tokens' for affected users, which the company would commit to repurchasing in the future. The company is also planning to establish a new system dedicated to hosting user assets to prevent future breaches. Mixin is working with Google and blockchain security firm @SlowMist_Team to investigate the breach.
September 25, 2023 | 4:28 pm
News sentiment analysis
Sort by:
Descending
NEGATIVE IMPACT
Bitcoin users on Mixin Network may be affected by the $200 million hack. Half of the assets are promised to be protected, but the fate of the other half is unclear. This could potentially impact the trust in the platform and may influence Bitcoin transactions on it.
The hack on Mixin Network could potentially affect the trust of Bitcoin users on the platform. If users decide to move their assets elsewhere due to security concerns, it could lead to a decrease in Bitcoin transactions on Mixin Network.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 50
NEGATIVE IMPACT
Ethereum users on Mixin Network may be affected by the $200 million hack. Half of the assets are promised to be protected, but the fate of the other half is unclear. This could potentially impact the trust in the platform and may influence Ethereum transactions on it.
The hack on Mixin Network could potentially affect the trust of Ethereum users on the platform. If users decide to move their assets elsewhere due to security concerns, it could lead to a decrease in Ethereum transactions on Mixin Network.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 50