UK cryptocurrency exchange Lykke has suspended trading services after a suspected hack resulted in $22 million being stolen. The breach, discovered by web investigator SomaXBT, involved unauthorized access leading to significant outflows, as confirmed by MetaMask developer Taylor Monahan.
The stolen funds included Bitcoin, Ether, Litecoins, and Bitcoin Cash. Post-theft, the Ether was swapped for DAI stablecoin to launder the money. Lykke CEO Richard Olsen assured clients that their funds are safe despite many reporting empty balances.
This incident follows other recent hacks, including DMM Bitcoin’s $320 million loss and UwU Lend Protocol’s $19.3 million theft, highlighting ongoing security vulnerabilities in the crypto sector.
Enhanced security measures are crucial for the long-term stability and trust in digital asset platforms.
