Deribit's Hot Wallet Stolen for $28 Million, Losses to be Covered by Company Reserves

Nov 02,2022
KingData News: Deribit, a crypto derivatives trading platform, tweeted that its hot wallet was stolen, losing $28 million in funds, and that the loss will be covered by the company's reserves. Client assets, Fireblocks or any of the cold storage addresses are not affected. It's company procedure to keep 99% of our user funds in cold storage to limit the impact of these type of events. Deribit is performing ongoing security checks and have to halt withdrawals including third-party custodians Copper Clearloop and Cobo.
This metrics provides a follow-up of hack incidents such as the exploitation of the Harmony-eco cross-chain bridge Horizon and the NFT lending protocol XCarnival.
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