Mixin Network experienced a hacking incident resulting in the loss of $200 million in funds. The community received official confirmation from Mixin Network on X (formerly Twitter), notifying them of the temporary suspension of deposit and withdrawal services by the decentralized wallet provider. However, users can still carry out transfer orders on the platform.

The team at Mixin Network plans to resume services once they've identified and addressed the vulnerabilities. The hackers targeted the database of the cloud service provider, according to Mixin Network, which has engaged Google and SlowMist to assist in the investigations. The attack resulted in the theft of assets, and the decision to reopen deposit and withdrawal services was made in consensus with all nodes.

Moving forward, Mixin Network intends to provide further details about its plans to address the issue. Founder Feng Xiaodong will address the situation in a public Mandarin livestream scheduled for September 25, 2023, at 13:00 HKT. The speech will later be translated into English for global users.

Mixin Network has issued an apology and assured the community that efforts will be made to minimize losses. However, the community's response to the announcement has been largely negative, with many expressing dissatisfaction and concerns about the network's security. SlowMist has informed its community about its collaboration with Mixin Network in the investigation and advised users to look for updates directly from Mixin Network.

Questions have been raised within the community regarding the decentralized nature of Mixin Network, particularly in light of the mention of the cloud service provider's database being attacked. Some are questioning how the service can handle the peer-to-peer segment in such situations.

Hack attacks are unfortunately common in the industry, as evidenced by recent incidents like the DNS attack on Balancer's website. Even Vitalik Buterin's X account fell victim to a hack, resulting in the loss of approximately $700,000 in non-fungible tokens and cryptocurrencies. Mixin Network is actively working to address vulnerabilities, and users will regain access to deposit and withdrawal functionalities once the issues are resolved.