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The Largest Cryptocurrency Hack in History $600 Million Stolen From The Poly Network

According to an update posted on Tuesday on Twitter, Poly Network said the attack had taken away assets from Binance Chain, Ethereum, and the Polygon network. 

The data on blockchains from these networks shows the hackers stole approximately $273 million from Ethereum and $85 million in USD Coin (USDC) from the Polygon network, and $253 million from the Binance Smart Chain. 

Poly also reported that renBTC (WBTC) and wrapped Ether (WITH), and wrapped Bitcoin (USDC) were all involved in the attack. The exploit used “a vulnerability between contract calls’.

SlowMist, a Chinese cybersecurity firm, published an update on its website shortly after the hack was reported. It stated that its analysts had identified and verified the identity of the attacker’s IP address, fingerprint, email address, and fingerprint on the device but did not divulge any other information.

The firm said it used information provided by the Hoo exchange as well as other companies to find out that the hacker’s first source of funds was in Monero (XMR), later changed to Binance Coin (BNB), Ether (ETH), and MATIC.

Poly Network, a collaboration project by Neo, Ontology, and Switcheo announced last year. It aims to establish a “heterogeneous protocol alliance” that integrates the blockchains within a more cross-chain ecosystem. The protocol lets users switch tokens across various blockchains.

The Banned Wallet And Communication Requests

Following the hack the assets had been transferred to three different wallets (now on temporary hold) on three different chains with following addresses:

ETH: 0xC8a65Fadf0e0dDAf421F28FEAb69Bf6E2E589963

BSC: 0x0D6e286A7cfD25E0c01fEe9756765D8033B32C71

Polygon: 0x5dc3603C9D42Ff184153a8a9094a73d461663214

Also, the Poly Network urges the hacker to start discussions in a communication channel and requests him/her to give back the stolen funds from the people.

Meanwhile, Hacker Becomes A so-called Robinhood

The eyes of the crypto community remain fixed on the hacker.

One crypto enthusiast, named “hanashiro.eth,” received 13.37 Ethereum ($42,000 at current prices) from the hacker to tip him off.

“DON’T USE YOUR USDT TOKEN YOU’VE GOT BLACKLISTED,” hanashiro.eth wrote as a message to an Ethereum transaction.

After seeing such generosity, other users started bombarding the hacker as well with messages.

One of them claimed to have been a refugee in Lebanon and asked the attacker for some money. Another said, “Congratulations!”

Categories: News
Vishal Dixit: Vishal Dixit is a technical analyst with over a year of experience in the Indian stock market. He likes to read, learn and practice more about cryptocurrency, Forex, and Equity. He possesses strong technical and analytical skills in the financial market which comes from a strong background as a chemistry graduate and chess enthusiast.