Hackers stole over $600 million worth of crypto from Poly Network

One of the largest heists attacking the digital asset market has seen hackers steal $611 million worth of cryptocurrency from a blockchain-based banking network.


Poly Network is a cross-chain decentralized finance (DeFi) platform established in China that allows users to transfer tokens across several blockchains, including Bitcoin and Ethereum.


Unidentified individuals used a vulnerability in the firm’s system to successfully transfer Binance Chain, Ethereum, and Polygon assets into their wallets, according to the company.


According to Poly Network, the hacker took advantage of a flaw in the contract calls.


According to reports, the stolen Binance Chain, Ethereum, and Polygon funds were transferred to three different wallets.


Miners of affected blockchains and centralised crypto exchanges are being urged to blocklist coins arriving from the addresses listed below, according to the business.


The following are the three wallet addresses: –

  • Ethereum: 0xC8a65Fadf0e0dDAf421F28FEAb69Bf6E2E589963 ($273 million)
  • Binance Smart Chain: 0x0D6e286A7cfD25E0c01fEe9756765D8033B32C71 ($253 million)
  • Polygon: 0x5dc3603C9D42Ff184153a8a9094a73d461663214 ($85 million)


The following is a list of the stolen assets:

  • Ethereum tokens: $273 million
  • Binance Smart Chain: $253 million
  • Polygon Network (in USDC): $85 million


Tether’s Chief Technology Officer Paolo Ardoino announced on Twitter that the stablecoin company had frozen $33 million in stolen tokens.


Binance CEO Changpeng Zha stated on Twitter that the company was aware of the Poly Network attack.


No one has control over BSC (or ETH), they are working with all of their security experts to provide proactive assistance.


Poly Network has urged the threat actors to return the stolen cryptocurrency assets, claiming that a robbery of this magnitude would very certainly be noticed by law enforcement.


The hacker’s identity is unknown, but blockchain security firm SlowMist claims to have tracked the attacker’s email address, IP address, and device fingerprint, as well as the fact that the attacker’s initial source of funds was Monero coins, which were then exchanged for ETH, MATIC, and other currencies.




You might also like:


Threat actor leaked a million stolen credit cards on dark web

Fake cryptocurrency mining apps used to scam thousands of Android users

Crypto mining malware – Crackonosh mined Monero worth $2 million