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Hackers Stole $611 Million From Poly Cryptocurrency Network

crypto stolen

In a hacker attack on the blockchain company Poly Network, around 611 million dollars that Poly had invested in various cryptocurrencies were stolen. It’s one of the biggest cryptocurrency hacks known to date.

Poly Network managed the assets of tens of thousands of customers, distributed across various cryptocurrency platforms. After the first reports, tokens were redirected to other accounts by previously unknown hackers. The online magazine The Block estimates the stolen assets to be worth at least $611 million.

These values ​​have been redirected

  • Ethereum token: $ 273 million
  • Binance Smart Chain: $ 253 million
  • Polygon Network: $ 85 million

Poly Network enables users to easily exchange tokens across various crypto platforms, including Bitcoin and Ethereum. The transmission chain has now been attacked. It was said that the unknown hackers were able to bypass all security measures and then carried out several transactions.

Blacklist

The miners of the affected blockchain and crypto exchanges were asked to blacklist tokens originating from the affected addresses. Poly Network provides details on this on Twitter. “We will take legal action and ask the hackers to return the assets,” said Poly Network on the same Twitter thread. However, some of the transfers have already been successfully traced and frozen, such as $33 million from Tether. The unknowns can no longer dispose of this sum.

To date, it has been able to recover approximately $4.7 million worth of assets directly, according to Poly Network. However, nothing is known about the whereabouts of around $570 million.

Web Desk is the news author at Research Snipers which mainly covers Technology News, Microsoft News, Google News, Facebook, Apple, Huawei, Xiaomi, and other tech news and served by Research Snipers Staff and editors.

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