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Home Crypto News Market Poly Network Hacked For $611 Million Which Is Biggest Defi Hack Ever

Poly Network Hacked For $611 Million Which Is Biggest Defi Hack Ever

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Poly Network which is a cross-chain protocol was compromised for $611 millions.


Poly network team said:

“Important Notice:

We are sorry to announce that #PolyNetwork was attacked on BinanceChain, ethereum and 0xPolygon

 Assets had been transferred to hacker’s following addresses:

ETH: 0xC8a65Fadf0e0dDAf421F28FEAb69Bf6E2E589963

BSC: 0x0D6e286A7cfD25E0c01fEe9756765D8033B32C71″

Team Further said:

“We call on miners of affected blockchain and crypto exchanges to blacklist tokens coming from the above addresses.

We call on miners of affected blockchain and crypto exchanges to blacklist tokens coming from the above addresses.

We will take legal actions and we urge the hackers to return the assets.”




The protocol team is asking exchanges to block hacked funds.

In the largest DeFi hack ever, Poly network was hacked to $ 611 million.

The hacker transferred the stolen assets to addresses on Ethereum, Binance Smart Chain, and Polygon.

It is difficult to estimate the scale of the hack because the Poly network allows interoperability among different blockchains.

Japanese aggregation protocol O3 Swap has put its cross-chain functionality on hold because of the hack.

Paolo Ardoino, Tether’s Chief Technology Officer, announced that $33 Million worth of USDT tokens relating to the Poly network incident has been frozen by the stablecoin issuer.

Poly Network encourages miners and exchanges to blacklist wallets that are associated with the attack.

Operators behind the protocol promise to sue bad actor.

 

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Mark Brennanhttps://thecryptobasic.com/
Mark is 27, holds a Master degree in Business Administration, and works as a content Creator at TheCryptoBasic mostly on Crypto Market Updates. Since 2014 he has been active in the crypto sector. Thanks to the Business College in which other than Business subjects, he was taught about the disruptive potential of Blockchain. His interests include Blockchain technology and Crypto Market innovations. He also founded a small startup in which he gives lectures on cryptocurrencies.

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