Crypto Exchange Lykke Says It Was Hacked

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On June 4, Lykke cryptocurrency exchange was impacted by an exploit, resulting in the halt of all withdrawals. In a social media announcement made on June 10, the exchange assured users that their funds are safe and will be recovered.

According to the announcement, the attack affected both Lykke UK and Lykke Corp AG. In a subsequent statement, the exchange explained that they have paused withdrawals as a precautionary measure.

Established in 2015 and based in Switzerland, Lykke is a centralized cryptocurrency exchange that prides itself on being a “no fee crypto exchange” and was originally a forex broker.

On June 9, blockchain security researcher SomaXBT uncovered the attack and accused the Lykke team of trying to conceal it. In their post, SomaXBT claimed that Lykke lost $19.5 million worth of crypto assets, as shown in a screenshot of a Discord message reportedly from the team.

The message mentioned that the exchange was undergoing unscheduled maintenance.