Another Cryptocurrency Platform Has Been Hit by a Major Hack: The Altcoin Allegedly Involved in the Theft of User Funds Has Issued a Denial

Cryptocurrency liquidity provider TrustedVolumes has confirmed it was hacked, suffering losses of approximately $6.7 million. The company stated that the stolen funds are currently held in three different wallet addresses.

According to information shared by TrustedVolumes, approximately $3 million worth of assets are held in two different addresses, while a third address holds approximately $700,000 worth of cryptocurrency. In a statement following the attack, the company added that it remains open to communication with the attacker and is prepared to engage in “constructive negotiations” for a bug bounty and a mutually acceptable solution.

Following the attack, various speculations arose in the decentralized finance (DeFi) sector, and 1inch also released an official statement on the matter. 1inch stated that some reports circulating on social media were misleading, clarifying that neither 1inch itself nor its protocols were connected to the incident.

The company statement said, “There is no impact on 1inch systems, infrastructure, or user funds.” It also noted that TrustedVolumes is an independent liquidity provider used by many protocols in the industry and does not operate exclusively for 1inch.

*This is not investment advice.