The 2021 Liquid Exchange Hack

In August 2021, Liquid, a Japanese cryptocurrency exchange, was hacked, leading to the loss of over $90 million in digital assets. The attackers gained access to Liquid’s warm wallets, where the majority of the assets were stored.

Liquid responded by moving remaining assets to cold wallets and working with other exchanges to track the stolen funds. This incident highlighted the risks of hot and warm wallets and the importance of secure asset storage practices.

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