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Crypto Exchange Poloniex Hacked of at Least $49 Million: Reports

source-logo  beincrypto.com  + 2 more 10 November 2023 11:24, UTC

Crypto exchange Poloniex has been hacked for at least $49 million. The blockchain analysis platform PeckShield pointed towards the suspicious transactions.

PeckShield alert informed crypto exchange Poloniex and Justin Sun about the suspicious transactions. BeInCrypto discovered through the on-chain data that the following tokens were transferred to a new wallet:

  • 4900 Ethereum
  • 726,859.21 Sandbox
  • 397,778.61 Polygon
  • 102,084.79 Lido DAO
  • 188,797 DAI
  • 168,476.02 FRAX
  • 1,158,260 CRO
  • 10,027,719.43 HEX
  • 1,058,674.96 CHZ
  • 28,491.81 APE
The flow of funds stolen from Poloniex. Source: Meta Sleuth

Cyvers Alerts, the security alert platform, estimates that someone has moved approximately $60 million from Poloniex’s hot wallets. Justin Sun, one of the primary stakeholders of the Poloniex crypto exchange, wrote on X (Twitter):

“We are currently investigating the Poloniex hack incident. Poloniex maintains a healthy financial position and will fully reimburse the affected funds. Additionally, we are exploring opportunities for collaboration with other exchanges to facilitate the recovery of these funds.”

BeInCrypto has yet to discover more detailed information regarding the Poloniex hack.

Unexpectedly, the native token of the TRON blockchain, TRX, pumped by 14% after the hack. This sudden change caught the community off guard. Justin Sun, a well-known figure in the crypto world, is the founder of the TRON blockchain. However, in the wake of these events, some individuals are harboring suspicions about the incident. One wrote:

“Why did the hacker use those funds to pump TRX 🤔”

TRX/USDT 1H Chart Binance
TRX/USDT 1H Chart Binance. Source: TradingView
beincrypto.com

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