As a result of an attack on the Poly Network, a cross-chain decentralized finance platform, the attacker managed to steal more than $600 million in cryptocurrency.This is one of the biggest heists in the crypto industry and the biggest in the DeFi space to date.
In an official announcement, Poly Network said that the hacker was able to steal digital assets from three networks at once: about $273 million from Ethereum, $85 million in stablecoins from 0xPolygon, and about $273 million from Binance Chain.
The blockchains were attacked sequentially one after the other, and the company managed to identify three addresses to whichcryptocurrencies were transferred.The Poly Network has approached the miners of the affected networks and exchanges with a request to blacklist the coins and tokens from them. The company also began working with law enforcement to catch the culprit.
Just an hour after the hack, the hacker wanted to move some of the stolen assets through an Ethereum address to the Curve.fi's liquidity pool, but the operation was rejected.However, 30 minutes earlier , he still managed to move more than $100 million from the Binance Smart Chain address to the Ellipsis Finance liquidity pool.
Crypto projects and exchanges promised to coordinatetheir actions to block funds, and some have even offered assistance in tracing stolen assets. Tether has already blacklisted $ 33 million stolen USDT.
Cybersecurity company SlowMist said it identified the attacker ID, IP credentials, and the digital fingerprint of the device, which it communicated to others in a mailing list.
</p>Read this:
Hackers stole $ 611 million as a result of hacking the Poly Network project
Twitter explained how hackers managed to massively hack pages
During the dump, the Matic Network token lost more than 70% of the value
U.S. Internal Revenue Service to pay $625,000 for Monero and Lightning Network hacking
The attacker withdrew $ 350,000 from the bZx DeFi platform, spending less than $ 9 on commissions
Tether launches USDT on OMG Network