Largest cryptocurrency hack: Hackers have stolen some $600m (£433m)

Delicious

Delicious

Thread Starter
Active member
Local time
Today 10:18 AM
NaijaCash
14
Largest cryptocurrency scam Hackers have stolen some $600m £433m.jpg

Hackers have stolen some $600m (£433m) in what appears to be one the largest cryptocurrency heists ever.
Blockchain site Poly Network said hackers had exploited a vulnerability in its system and taken thousands of digital tokens such as Ether.
In a letter posted on Twitter, it urged the thieves to "establish communication and return the hacked assets".
In scale, the hack is on par with huge recent breaches at exchanges such as Coincheck and Mt Gox.
In its letter Poly Network said: "The amount of money you have hacked is one of the biggest in defi [decentralised finance] history.
"Law enforcement in any country will regard this as a major economic crime and you will be pursued.

"The money you stole are [sic] from tens of thousands of crypto community members, hence the people."

Poly Network said a preliminary investigation found a hacker exploited a "vulnerability between contract calls".
It urged various exchanges to block deposits of the coins, after millions of dollars in tokens were transferred to separate cryptocurrency wallets.
About $267m of Ether currency has been taken, $252m of Binance coins and roughly $85 million in USDC tokens.
We are aware of the https://t.co/IgGJ0598Q0 exploit that occurred today. While no one controls BSC (or ETH), we are coordinating with all our security partners to proactively help. There are no guarantees. We will do as much as we can. Stay #SAFU. 🙏 https://t.co/TG0dKPapQT
— CZ 🔶 Binance (@cz_binance) August 10, 2021
The BBC is not responsible for the content of external sites.View original tweet on Twitter
Changpeng Zhao, chief executive of Binance, said his firm was aware of the hack, but added there was only so much he could do.
He said the group was "co-ordinating with all our security partners to proactively help".

"There are no guarantees," he added.
Poly Network is a decentralised finance - or Defi - provider, which allows users to transfer tokens tied to one blockchain to a different network.


 
Last edited:
  • Tags
    blockchain crypto cryptocurrency scam hackers
  • Richest Naijafans User

    Most NaijaCash

    Naijafans
    Naijafans
    9,871 NaijaCash
    N
    NL SOFT
    2,593 NaijaCash
    SACHSTOSHI
    SACHSTOSHI
    578 NaijaCash
    maventechie
    maventechie
    569 NaijaCash
    Naijablog
    Naijablog
    397 NaijaCash
    Naijababe
    Naijababe
    272 NaijaCash
    bestosteopathy1
    bestosteopathy1
    205 NaijaCash
    K
    A
    anngardner97
    117 NaijaCash
    bettydawson
    bettydawson
    113 NaijaCash