There are two more topic created today on Poly Network hack.
1. https://bitcointalksearch.org/topic/largest-defi-hack-611-million-stolen-from-poly-network-5353878
2. https://bitcointalksearch.org/topic/polynetwork-hacked-600-million-lost-5353928
From one of the discussion I found out that the hacker has returned all the money. The reason is probably that the hacker has been identified.
Topic: Poly Network hack: one of the biggest crypto heists! - page 2. (Read 202 times)
So basically $600m were stolen from Poly Network platform and it was described as one of the biggest crypto heists in history.
The hackers exploited a vulnerability in the platform which affected BinanceChain, ethereum and 0xPolygon.
It was reported also that the hacker(s) started to return a part of the stolen funds (+$4.8m)!
Source: https://www.cnbc.com/2021/08/11/cryptocurrency-theft-hackers-steal-600-million-in-poly-network-hack.html
Edit: luckily there is no bitcoin direct or indirect (price) damage and exchanges hacks is really annoying and shouldn't happen that frequently!
The hackers exploited a vulnerability in the platform which affected BinanceChain, ethereum and 0xPolygon.
It was reported also that the hacker(s) started to return a part of the stolen funds (+$4.8m)!
Source: https://www.cnbc.com/2021/08/11/cryptocurrency-theft-hackers-steal-600-million-in-poly-network-hack.html
Edit: luckily there is no bitcoin direct or indirect (price) damage and exchanges hacks is really annoying and shouldn't happen that frequently!
It was controlled and handle properly so the hack funds didn't manage to sell-off. This is the biggest hack but not the biggest loss since funds is already returned by the hacker. I saw many exchange last night that cooperating to track and detect the user. Luckily the scammer got doxxed and fear on going to jail so Poly Network still got a lucky ass by acting quickly to solve this mess.
funny part is
its promoted as DEFi
decentralised finance
promoted as a platform without intermediaries...
yet 'it' gets hacked..
we all know places like exchanges get hacked. but bitcoin cant be hacked.
so if these other networks/platforms are being hacked. then people need to learn from this.
dont be too casual about security when dealing with networks that allow custodians, partnerships and multisigs.
sometimes these swapping mechanisms can have backdoors.
seems the 'attacker' was able to sign transactions that moved the funds to their 3 addresses..
so just be cautious about these other networks pretending to be next level security. because you may find out that are less level security
its promoted as DEFi
decentralised finance
promoted as a platform without intermediaries...
yet 'it' gets hacked..
we all know places like exchanges get hacked. but bitcoin cant be hacked.
so if these other networks/platforms are being hacked. then people need to learn from this.
dont be too casual about security when dealing with networks that allow custodians, partnerships and multisigs.
sometimes these swapping mechanisms can have backdoors.
seems the 'attacker' was able to sign transactions that moved the funds to their 3 addresses..
so just be cautious about these other networks pretending to be next level security. because you may find out that are less level security
So basically $600m were stolen from Poly Network platform and it was described as one of the biggest crypto heists in history.
The hackers exploited a vulnerability in the platform which affected BinanceChain, ethereum and 0xPolygon.
It was reported also that the hacker(s) started to return a part of the stolen funds (+$4.8m)!
Source: https://www.cnbc.com/2021/08/11/cryptocurrency-theft-hackers-steal-600-million-in-poly-network-hack.html
Edit: luckily there is no bitcoin direct or indirect (price) damage and exchanges hacks is really annoying and shouldn't happen that frequently!
The hackers exploited a vulnerability in the platform which affected BinanceChain, ethereum and 0xPolygon.
It was reported also that the hacker(s) started to return a part of the stolen funds (+$4.8m)!
Source: https://www.cnbc.com/2021/08/11/cryptocurrency-theft-hackers-steal-600-million-in-poly-network-hack.html
Edit: luckily there is no bitcoin direct or indirect (price) damage and exchanges hacks is really annoying and shouldn't happen that frequently!
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