Over $600 million worth of cryptocurrency has been stolen from decentralized cross-chain protocol Poly Network, which announced the attack on social media. Assets were taken from its wallets across the Binance Smart Chain, Ethereum, and Polygon networks.
It’s estimated a total of $611 million were stolen, making this the largest DeFi hack to date. The breakdown of the stolen assets is:
- $273 million in Ethereum assets
- $253 million in Binance Smart chain assets
- $85 Million in USDC on Polygon
Poly Network creates a bridge between multiple blockchains, including NEO, Ontology, and Switcheo, allowing them to trade cryptoassets across these platforms. Stablecoin issuer Tether has since blacklisted the around $33 million worth of tokens stolen on the Ethereum network.
Poly Network called on miners to blacklist tokens coming from the addresses associated with the hack, while Binance CEO Changpeng Zhao said the company was coordinating with security partners to remediate the situation.
Blockchain security firm SlowMist has claimed they were able to track down the attacker’s ID and identified their email address, IP address, and device fingerprint.
Source: https://www.cryptocompare.com/email-updates/daily/2021/aug/11/
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