Purchases After Poly Exploit Not Recognized, Informs MetisDAO

This morning Metis’ official account tweeted that only the METIS purchases made on BNBChain addresses prior to the Poly Network’s exploit, and the perpetrator’s first sale of exploited METIS will be recognized.

The Metis team reported that a snapshot was captured of BNBChain addresses that held METIS tokens during the occurrence of PolyNetwork’s security breach, as well as during the exploiters’ first sale of exploited METIS. MetisDAO declared:

Addresses buying METIS on BNBChain after the time of the snapshot will not be recognized.

Moreover, the DAO strongly recommended refraining from engaging with the METIS contract on BNBChain, as a new contract will soon be deployed. Furthermore, they advised all liquidity providers to withdraw their funds from Pancake Swap.

On July 2, Poly Network tweeted that it had fallen victim to a decentralized finance exploit. According to the tweet, the attackers successfully manipulated a smart contract function on the cross-chain bridge protocol. As a result, Poly Network announced a temporary suspension of its services.

In the latest update, the Poly Network team disclosed that the exploit had impacted 57 different cryptocurrencies across 10 blockchains, which include Ethereum, BNB Chain, Polygon, Avalanche, Heco, OKX, and Metis.

Although the exact amount stolen in the attack was not specified by Poly Network, PeckShield previously reported that the attacker had transferred out a minimum of $5 million worth of cryptocurrency. Additionally, a report from CertiK on July 3 estimated that the attack resulted in approximately $10 million worth of crypto being accumulated across five externally owned addresses.