thenewscrypto.com
- Poly Network losses over $600 million on August 10.
- The assets stolen includes ETH, DAI, UNI, SHIB, FEI, and many more.
Poly Network, the decentralized finance (DeFi) project, losses over $600 million on August 10, 2021.
Important Notice:
— Poly Network (@PolyNetwork2) August 10, 2021
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
$600M Loss on Poly Network
As per the Ciphertrace report, $474 million lost due to DeFi-based hacks and fraud. Moreover, the findings show the way DeFi hacks hit record highs; however, the Polygon Network hack plays a major role.
Poly Network hacked for over $600 million across Ethereum, Polygon, and BSC. https://t.co/e1mJW0gijehttps://t.co/84gmgphqAHhttps://t.co/3ICgaeJgUs
— Mudit Gupta (@Mudit__Gupta) August 10, 2021
Poly network hasn’t even verified their contracts on Ethereum so it’s tedious to analyze. Here are my current thoughts 🧵👇 pic.twitter.com/WDvMbpGVwN
The Poly Network project was originally developed from the Neo project which leverages three various blockchain networks such as Polygon, Ethereum, and Binance Smart Chain (BSC) protocols.
In detail, these assets stolen include a great number of tokens such as ETH, SHIB, FEI, DAI, UNI, BUSD, BTCB, ETHB, BNB, USDT, and more. However, a great number of people assessed the situation on Twitter and although tedious it is calculated that over $600 million in tokens were stolen.
More so, the team behind the Poly Network project has written a letter explaining the hacker to cooperate with the team. The letter adds, ’We want to establish communication with you and urge you to return the hacked funds’.
All in all, it does not look like the hacker is willing to cooperate with the Poly Network project. However, few transaction messages allegedly stem from the hacker and could be read on etherscan.io, indicating the way that the hacker trolls the project with a few statements.
Hackers explained,
“It would have been a billion hack if I had moved [the] remaining sh**coins. Did I just save the project? Not so interested in money, now considering returning some tokens or just leaving them here…What if I make a new token and let the DAO decide where the tokens go?”