Users of hacked Mixin Network question project's 'decentralized' nature
The founder of ‘decentralized’ wallet provider Mixin Network has told users that the firm will ensure only “half” of their assets are safe, following a $200 million hack over the weekend that left users wondering how decentralized the project really is. In a Mandarin-speaking livestream on Monday, founder Feng Xiaodong said attempts to recover the lost funds were ongoing but “very difficult,” the Block reports. As a result, the company is looking into alternative ways to recoup user assets, as well as a new system for hosting user funds. While only half of the total user assets on the network are not affected, the other half may be recouped through what Feng called “bond tokens,” which users can claim in the hopes that Mixin Network will buy them back one day. Read more: Phishing attack on software firm Retool enabled Fortress Trust hack: CoinDesk At press time, Mixin’s token XIN has dropped 9% since the news broke, from $212 to $192. Mixin has temporarily suspended deposits and