Mixin Network: Off-chain Cloud Database Breach → Hot Wallet / Private Key Compromise
Mixin Network, which markets itself as decentralized, lost $200M when its centralized cloud database — holding private key material — was breached, with funds swept via simple on-chain transfers requiring no smart contract exploit.
Summary #
Mixin Network suffered a Cross-chain Network / Custodial Bridge on 2023-09-25, resulting in a loss of approximately $200M.
What happened #
Mixin Network, which markets itself as decentralized, lost $200M when its centralized cloud database — holding private key material — was breached, with funds swept via simple on-chain transfers requiring no smart contract exploit.
Linked factors #
- RD-F-007 — related : Bug bounty absent — baseline integrity gap [via dashboard_risk_factors/Bug bounty: Unknown]