Crypto derivatives exchange Deribit has lost $28 million in a hot wallet hack. The exchange halted withdrawals as a result of the hack
The company said it is performing ongoing security checks and has halted withdrawals. Including withdrawals from third-party custodians Copper, Clearloop, and Cobo until it is confident that the platform is safe to re-open.
Deribit’s compromised hot wallets contained funds in bitcoin, ether, and USDC. Its cold storage addresses, containing 99% of user funds, were not affected.
The hack is the latest blow for the exchange that recently took a hit from liquidating Three Arrows Capital’s (3AC’s) positions after the now-bankrupt crypto hedge fund failed to meet margin calls. It comes shortly after Deribit raised around $40 million from existing investors at a $400 million valuation, as The Block reported in late September.