Poly Network loses $ 611 million to attackers

The Poly Network has reportedly lost over $ 600 million in a fatal attack, as it has never existed in the sector of decentralized finances (Defi)

The cross-chain protocol Poly Network reported yesterday that it had suffered a massive attack, in which the hackers lost over $ 600 million. The development team announced this yesterday, with the news sent a shock wave through the Defi world.

According to the development team, the Poly Network was attacked on the Ethereum, Binance Smart Chain (BSC) and Polygon. The attacks led to a loss of $ 611 million, the largest in the history of the defi sector.

https://twitter.com/polynetwork2/1425073987164381196

The team asked the miners of the affected blockchain and cryptocurrency exchanges to put tokens on the black list that come from the given address. The researcher of the block IGOR IGAMBERDIEV reveals The attacker was able to steal a huge sum of money that the hack was due to a cryptography problem and since the Poly Network is a cross-chain protocol.

of the stolen 611 million dollars accounted for $ 273 million to Ethereum token, $ 253 million on BSC tokens and finally $ 85 million on USDC stable in the polygon network. The cryptocurrency market has already become active to ensure that the funds are not successfully moved or withdrawn in Fiat currencies.

Stablecoin-emittent Tether said it had around 33 million USDT-token in Ethereum network placed on the black list that were stolen in the hack. Therefore, the attacker cannot move the USDT token to an exchange or wallet.

Changpeng Zhao has also tweeted that binance worked with security partners to move up to the movement Stop. He explained that there were no guarantees because nobody controls the BSC and Ethereum networks, but Binance will do anything to help.

During the define sector in recent months, several protocols have suffered hacks, scam-exits and rug pulls. This implies that more needs to be done to ensure the safety of the means and the protection of investors in the decentralized financial room.