News

Poly Network Suffers the Biggest Hack in History of more than $600M

Published

3 years ago

August 10, 2021

The decentralized finance protocol, Poly Network, known for its interoperability with other chains has suffered a major attack from hackers. Three major blockchain that interact with the protocol were attacked and huge funds were transferred in the assets from the wallet addresses.

Three major blockchain that interact with the protocol were attacked and huge funds were transferred in the assets from the wallet addresses.

The Binance smart chain, Ethereum and Polygon chain were attacked by the hackers and about $600 million dollars was transferred from the wallet address of the protocol. The hackers on Poly Network is said to have broken the record as the largest hack ever witnessed in the cryptocurrency industry. The last biggest hack was that of Coincheck exchange in early 2018.

The hackers on Poly Network is said to have broken the record as the largest hack ever witnessed in the cryptocurrency industry. The last biggest hack was that of Coincheck exchange in early 2018.
The hackers on Poly Network is said to have broken the record as the largest hack ever witnessed in the cryptocurrency industry. The last biggest hack was that of Coincheck exchange in early 2018.

Poloniex to pay $10m for operating unregistered exchange

Important Notice:

We are sorry to announce that #PolyNetwork was attacked on @BinanceChain @ethereum and @0xPolygon Assets had been transferred to hacker’s following addresses:

ETH: 0xC8a65Fadf0e0dDAf421F28FEAb69Bf6E2E589963

BSC: 0x0D6e286A7cfD25E0c01fEe9756765D8033B32C71

This was disclosed via the Twitter handle of the protocol. The hacker also left a message for the DeFi protocol which read;

“It would have been a billion hack if I had moved the remaining shitcoins. Did I just save the project? Not really interested in the money, now considering returning some tokens or leaving it here.

AFABOT: Best Cryptocurrency Trading Bot For Binance Exchange.

Poly Network Appeals to the Hackers

The protocol has however published a letter addressed to the hackers in the wake of the event. In the letter, they stated that they were ready to come to terms with the hacker and begin talks. They also urged the hackers to return the money transferred as it was the community’s funds;

“…Law enforcement in any country will regard this as a major economic crime and you will be pursued. It is unwise for you to do any transactions. The money you stole are from tens of thousands of community members, hence the people ”.