Poly Network Got Robbed of More Than USD 600M

By Sead Fadilpašić

Interoperability protocol Poly Network has confirmed that it has suffered a major exploit - losing at least USD 600.3m of its funds.

The protocol announced that it got attacked on Binance Smart Chain (BSC), Ethereum (ETH), and Polygon (MATIC).

We call on miners of affected blockchain and crypto exchanges to blacklist tokens coming from the [provided] addresses, said Poly Network, providing three addresses to which it says the assets have been transfered.

We will take legal actions and we urge the hackers to return the assets, it then added.

No additional information has been provided by the team behind the protocol as of yet.

What can be seen from the addresses is that:

• Polygonscan shows USD 84.93m worth of USD Coin (USDC);

• BscScan shows USD 251.68m in Binance-pegged tokens, ETH, USDC, binance USD (BUSD), among others;

• Etherscan shows nearly USD 264.4m of ETH, USDC, tether (USDT), and other ERC-20 tokens.

That is the total of USD 601m - which some say just may be the largest attack the space has ever seen.

The Chinese community believes that this may be the largest DeFi attack in history. https://t.co/VoCt8SQsZL

— Wu Blockchain (@WuBlockchain)

Tether has reacted already and frozen c. USD 33m of USDT.

. @Tether_to just froze ~33M $USDt on 0xC8a65Fadf0e0dDAf421F28FEAb69Bf6E2E589963 as part of the #PolyNetwork hack https://t.co/EviPTAkQJD

— Paolo Ardoino (@paoloardoino)

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