LCX Exchange Hacked for $8 Million

Summary

On January 8, 2023, cryptocurrency exchange LCX was hacked, resulting in the theft of cryptocurrencies $8 million. Hackers gained access to the exchange’s hot wallets and stole various cryptocurrencies, including ETH, USDC, SAND, LINK, QNT, ENJ, and MKR.

Attackers

The identity of the hackers who attacked LCX is unknown.

Hacker ETH Wallets:

• 0x165402279F2C081C54B00f0E08812F3fd4560A05
• 0x29875bd49350aC3f2Ca5ceEB1c1701708c795FF3

Losses

LCX estimated the losses from the hack to be $8 million. The stolen assets included:

• 162.68 ETH (502,671 USD)
• 3,437,783.23 USDC
• 761,236.94 EURe
• 101,249.71 SAND (485,995 USD)
• 1,847.65 LINK (48,557 USD)
• 17,251,192.30 LCX (2,466,558 USD)
• 669.00 QNT (115,609 USD)
• 4,819.74 ENJ (10,890 USD)
• 4.76 MKR (9,885 USD)

Timeline

• January 8, 2022, 10:29:11 PM +UTC: Hacker starts attack
• January 9, 2022: LCX reported the hack of its hot wallets.
• June 7, 2022: LCX reported that 60% of stolen funds were frozen

Security Failure Causes

• Wallet System Vulnerability: Flaws in the LCX hot wallet system have led to unauthorized access and transfers of funds.