British crypto exchange Lykke loses over $22m in hacker attack

U.K.-based crypto exchange Lykke said over $22 million worth of crypto had been stolen from its wallet in early June.

British cryptocurrency exchange Lykke reported a loss exceeding $22 million following a cyberattack on its wallet.

In a Jun. 10 post on X, the crypto exchange acknowledged it had suffered an attack on its infrastructure on Jun 4 after web3 threats researcher under alias @somaxbt disclosed the incident in a series of X posts. The attack saw an unknown entity withdraw 158 BTC and 2,161 ETH from the exchange’s wallet.

Lykke stated that it “immediately shut down affected systems to limit damage” and assured that the security breaches had been “thoroughly examined and fully addressed.” While the exchange didn’t specify the hack’s exact cause, it reassured customers of its strong financial health, highlighting its “solid capital reserves and a diverse portfolio.”

“Clients’ funds are safe and will be recovered. The internal investigation conducted identified the IP addresses of the attacker, who stole more than $22 million of crypto assets.”

Lykke

As of press time, the exchange has halted withdrawals and deposits as a “preventive measure,” with no clear timeframe for resuming operations. Lykke also added on its website that the platform would remain “inactive until further notice.”

The latest incident appears to be the second-largest crypto theft in Q2 this year, following a $300 million hack on Japanese Bitcoin exchange DMM on May 31. At the time, DMM reported the loss of over 4,500 BTC from customer wallets and pledged full reimbursement, later revealing plans to raise $320 million to compensate affected users.