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Breaking: Largest Cryptocurrency Options Exchange Deribit Suffers $28 Million Hack

2 Nov, 20221 min readOther
Breaking: Largest Cryptocurrency Options Exchange Deribit Suffers $28 Million Hack

Deribit, the largest cryptocurrency options exchange, has suffered a $28 million hack, according to an announcement posted on Twitter.

It has temporarily halted withdrawals amid ongoing security checks. It is unclear when the exchange will be able to reopen them.

The trading platform says that its clients' funds are safe, adding that the losses have been covered by its own reserves, meaning that Deribit's insurance fund will not be affected by the hacking incident.

Deribit claims that it stores 99% of its customers' funds in cold storage addresses.

The exchange has stressed that it remains in a strong financial positon, and the recent hack will to affect its operations.

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