Reportedly, the Polyhedra Network experienced a loss exceeding $760,000 in THENA tokens due to a key leak on the BNB Chain.
The Polyhedra Network, a Web3 platform, reportedly lost over $760,000 in THENA tokens on the BNB Chain due to a vulnerability that allowed unauthorized access to wallets on the network.
According to security firm PeckShield, hackers made off with 1.4 million THE tokens, exchanging them for 1,299 BNB.
After the breach, the Polyhedra Network’s team took action to investigate the incident and enhance interoperability from opBNB to BNB. Subsequently, they confirmed that the breach was not linked to the security of the Polyhedra zkBridge.
Polyhedra Network stresses that the Polyhedra zkBridge has undergone rigorous audits by third-party firms and is currently operating smoothly without any issues affecting user assets.
The company declared that the incident resulted from human theft rather than a vulnerability in the contract. And has indicated its intention to pursue legal responsibility for those involved in the incident.
CoinMarketCap reported that THE is trading at $0.5740, reflecting an increase of 8.78% over the last 24 hours (as of this writing).
Polyhedra Network pioneered Web3 interoperability through the utilization of zero-knowledge proof protocols. At the forefront of their endeavors was the zkBridge protocol, aimed at fostering cross-chain infrastructures to facilitate interoperability between Layer 1 and Layer 2.
Beyond zkBridge, Polyhedra Network introduced additional infrastructure solutions. These encompassed a decentralized identity solution called zkDID and a scalability solution utilizing ParaPlonk, a vast distributed proof generation network. Their collective aim was to propel the acceleration of zero-knowledge rollups.
Polyhedra Network recently announced the end of the snapshot period for its upcoming airdrop. Moreover, the platform planned to list its token, ZK, on OKX Jumpstart, a platform for token launches and fundraising. This initiative would allow users to stake Bitcoin (BTC) and Ethereum (ETH) in exchange for ZK tokens.
Despite the security breach, Polyhedra Network noted it continued to prioritize security and Web3 interoperability.
Read also: Ethereum Foundation alongside zkSync allocates $900K for ZK Layer 2 development
