Lykke Confirms $22 Million Crypto Theft

    Lykke confirms a breach resulting in the theft of $22 million in digital assets. The exchange assures users that funds are secure and outlines ongoing recovery efforts.

    • Lykke confirms breach resulting in $22 million loss
    • Systems shut down to contain damage
    • Users’ funds reportedly secure
    • Accusations of delayed breach confirmation
    • Investigation and asset recovery underway

    Lykke Confirms Major Platform Breach

    Lykke, a U.K.-based cryptocurrency exchange, confirmed on June 10 that it suffered a significant breach leading to the theft of digital assets valued at $22 million. The exchange immediately shut down affected systems to prevent further damage, assuring users that their funds were secure. The breach, which occurred on June 4, has raised concerns within the crypto community regarding the security measures in place at Lykke.

    In an official statement on the social media platform X, Lykke detailed the steps taken to address the breach, including a thorough examination and complete resolution of the security vulnerabilities. This confirmation followed accusations by Web3 threats researcher Somaxbt, who alleged that Lykke delayed acknowledging the theft.

    Investigation and Response

    Lykke emphasized its robust financial standing and ongoing efforts to recover the stolen assets. The exchange noted that it has identified potential leads on the perpetrator and has engaged an external cybersecurity firm to assist in the investigation and recovery process. Despite the breach, Lykke assured users that the exchange remains closed as a preventive measure to avoid further issues.

    According to DL News, the stolen assets included bitcoin (BTC), ethereum (ETH), bitcoin cash (BCH), and litecoin (LTC). Post-attack activities showed that the hacker converted stolen ETH into the stablecoin DAI and distributed BTC across multiple wallets. The exchange’s proactive measures and commitment to recovering the stolen funds underscore its dedication to user security and operational integrity.

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