Crypto News & Opinion Hackers Steal $600m in Major Cryptocurrency Heist

[upnorth]

Content source

https://www.bbc.com/news/business-58163917

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.

Hackers steal $600m in major cryptocurrency heist

Thousands of digital tokens have been stolen by hackers in one of the largest cryptocurrency heists.

www.bbc.com

 

[[correlate]]

Hacker steals $600 million from Poly Network in biggest ever cryptocurrency hack​

An unidentified hacker has stolen more than $600 million worth of cryptocurrency from Poly Network, a decentralized finance (DeFi) platform based in China.

According to its website, Poly Network provides users the ability to trade cryptocurrency assets across different blockchains. Under the hood, the Poly Network executes these transactions using scripts called “contracts.”

On Thursday, August 10, an unidentified individual began moving funds from the Poly Network platform into cryptocurrency addresses under their control.

Hacker steals $600 million from Poly Network in biggest ever cryptocurrency hack

An unidentified hacker has stolen more than $600 million worth of cryptocurrency from Poly Network, a decentralized finance (DeFi) platform based in China.

therecord.media

 

[rndmblk]

Apparently they've given back more than $260 million of it

In a statement, Poly Network -- a "DeFi" platform that works across blockchains -- said the unknown culprit behind the attack has so far returned $256 million in BSC, $1 million from Polygon and $3.3 million in Ethereum.

Hacker returns more than $260 million in cryptocurrency after Poly attack - ZDNET

The headline grabbing haul saw a cybercriminal steal more than $600 million in cryptocurrency.

www.zdnet.com

 

[upnorth]

to extend our thanks and encourage Mr White Hat to continue contributing to security advancement in the blockchain world together with Poly Network, we cordially invite Mr White Hat to be the Chief Security Advisor of Poly Network.

OK, so you stole $600m-plus from us, how about you be our Chief Security Advisor, Poly Network asks thief

Could it be a trap?

www.theregister.com