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Deribit Crypto Exchange Suspends Withdrawals After Hot Wallet Hack Costs It $28 Million

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13-11-2022

Deribit, a cryptocurrency options and futures market experienced a cyberattack in which $28 million from their hot wallet was stolen.


Client funds have not been impacted, the business said, although withdrawals have temporarily been suspended while the exchange conducts security checks.


Deribit joins a lengthy list of cryptocurrency businesses that have recently been the subject of hostile attacks. With approximately $718 million stolen in only the first two weeks, October was the worst month ever recorded.


The business went on to declare that the loss will be reimbursed from corporate reserves and that Deribit is in a financially solid position and that current operations will not be harmed.