HitBTC breach results in 40 million stolen DVPN coins

TL;DR Breakdown According to the recent Tweet by Sentinel Network, nearly 40 million native DVPN tokens have been stolen in a recent breach.The theft from HitBTC have left people questioning its security and the safety of their assets.The HitBTC breach occurred due to a weakness in the Bitcoin exchange’s mnemonic phrase, as reported by Sentinel Network. The cryptocurrency world is still in its budding phase. A lot of institutional money is flowing in as people understand that they are gradually adopting cryptocurrencies and blockchain technology. Many vulnerabilities and regulation issues often land crypto exchanges and blockchain-based firms in trouble. On Friday, it was revealed by the Sentinel Network that a HitBTC breach resulted in a loss of over 40 million DVPN tokens for the centralized exchange. Further details on the HitBTC breach revealed that the breach actually happened due to a weakness that the attackers figured out in the mnemonic phrase. HitBTC breach due to mnemonic compromise Dear Community,It has come to light that the CEX @hitbtc has exposed their mnemonic phrase resulting in 40million $DVPN being stolen from its users. This is completely out of our control, HitBTC had delayed the distribution of funds to users and compromised their own mnemonic.— Sentinel (@Sentinel_co) August 20, 2021 According to the authorities of Sentinel Network mentioned that the HitBTC breach was not a consequence of t...