On Wednesday, PolyNetwork, a decentralized finance platform, has announced losing an estimated $600 million in cryptocurrencies in what Reuters considered one of the sector's biggest ever hacking attacks.
Crypto News Recap: Bitcoin Rebounds to Highest Since May, US Senators Brawl Over Crypto Tax— Poly Network (@PolyNetwork2) August 10, 2021
How did it Happen?
The platform explained that the hacker has exploited some vulnerability in the system, which enabled the criminals to transfer the money from compromised wallets to their addresses and urged people to blacklist tokens from those addresses.
Responses from other Exchanges
Other crypto exchanges like Binance have rushed to show support and offer help by blacklisting tokens coming from the cybercriminal addresses.
Binance CEO, Changpeng Zhao, commented:
We are aware of the https://t.co/IgGJ0598Q0 exploit that occurred today. While no one controls BSC (or ETH), we are coordinating with all our security partners to proactively help. There are no guarantees. We will do as much as we can. Stay #SAFU. ? https://t.co/TG0dKPapQT
— CZ ? Binance (@cz_binance) August 10, 2021
Hacker Retunes Some Stolen Money
In a very surprising move, the hacker returned some of the funds they stole!
So far, we have received a total value of $4,772,297.675 assets returned by the hacker.
— Poly Network (@PolyNetwork2) August 11, 2021
ETH address: $2,654,946.051
BSC address: $1,107,870.815
Polygon address: $1,009,480.809 pic.twitter.com/bPFAQk4mvS
Until the time of writing, $4.8 million had been returned to the compromised addresses.
