Cryptocurrency platform Poly Network hack steals $600 million [u]

Poly Network, the cryptocurrency interoperability protocol, says that it has been hacked and more than $600 million in assorted cryptocurrency was stolen.

While individuals have attempted various cryptocurrency related scams, now the Poly Network has taken to Twitter to announced it has been robbed. The service is calling on cryptocurrency users to blacklist the alleged hackers.

Important Notice:
We are sorry to announce that #PolyNetwork was attacked on @BinanceChain @ethereum and @0xPolygon Assets had been transferred to hacker's following addresses:
ETH: 0xC8a65Fadf0e0dDAf421F28FEAb69Bf6E2E589963
BSC: 0x0D6e286A7cfD25E0c01fEe9756765D8033B32C71
— Poly Network (@PolyNetwork2) August 10, 2021

"We call on miners of affected blockchain and crypto exchanges to blacklist tokens coming from [these] addresses," it continues.

The hack is being reported as the largest DeFi (decentralized finance) hack ever, though this is not confirmed.

According to Crypto News, Poly Network lists its stolen assets as being from Binance Smart Chain, Ethereum, and Polygon.

"We will take legal actions," continues the company, "and we urge the hackers to return the assets."

The urging may even be working. Crypto News is now separately reporting that some $1 million has been returned.

Update: The hacker or hackers behind the heist have returned nearly all of the funds as of Friday, Aug. 13.

25 Comments

GeorgeBMac 11421 comments · 8 Years

About 3 years ago

So criminals stole criminal's money. Isn't that illegal?

Maybe they should go to the police. But what police? Which country?

Does anybody care?

People like crypto currencies because they are free of government and corporate oversight.

There are advantages to that. There are also disadvantages.

verne arase 479 comments · 11 Years

Ah, crypto.

How can I lose? ... let me count the ways ...

Rayz2016 6957 comments · 8 Years

By the time thief converted it back into something he can buy beer with, he’ll have lost most of it in fees.

JWSC 1203 comments · 7 Years

We’re in early days. Nine out of 10 cryptocurrencies won’t survive adolescence due to insufficient security and verification processes. With every breach like this they will lose public trust. The few that can get it right will flourish.

rcfa 1123 comments · 17 Years

Great way to up the budget for BlackOps and counter the erosion of trust in the dollar in one fell swoop…
…there are agencies with the means and the motivation to do something like that outside what’s traditionally considered criminal circles. ;)