This is the Poly Network, the decentralized finance (DeFi) protocol, which was hacked again and as a result suspended its operations.
Poly Network, a decentralized finance protocol temporarily suspended its services due to an attack. The alleged hackers’ wallet showed tokens for $42 billion worth of cryptocurrency before some were blocked and others transferred.
The DeFi protocol issued a statement advising that they are evaluating the scope of affected assets. They also appreciated the assistance of cybersecurity professionals to help them resolve this issue.
According to the address of the suspected hackers, shared by Wu Blockchain, the attackers issued assets on various networks. Among these are Avalanche, Ethereum, BNB Chain, OKC, Optimism, Fantom, Gnosis Chain, HECO, Metis, and Polygon.
At the moment the hackers’ wallet has tokens worth almost $3 million, although it registered a a maximum of US$42,000 million before some assets were blocked and others transferred to different addresses.
According to Lookonchain, the hackers sold $94.00 million shiba inu (SHIB) for 360 ethers (ETH), 495 million Cook Finance (COOK) for 16 ETH and 15 million RioDeFi (RFuel) for 27 ETH.
Poly Network already had previous hacks: in 2021 he had a cryptocurrency theft that is remembered as the largest in history. Although later part of the money was returned in two parts by the hacker.
Source: Ambito
I am a 24-year-old writer and journalist who has been working in the news industry for the past two years. I write primarily about market news, so if you’re looking for insights into what’s going on in the stock market or economic indicators, you’ve come to the right place. I also dabble in writing articles on lifestyle trends and pop culture news.
