An Altcoin Listed on Major Exchanges Was Hacked! Hacker Minted 1 Billion Tokens, Price is Dropping!

As hacking incidents continue to increase in the cryptocurrency market, the latest news comes from Ethereum ($ETH).

According to blockchain security firm PeckShield, a cyberattack occurred on the Ethereum ($ETH) network in which a large amount of Polkadot ($DOT) was minted without authorization.

Hackers reportedly minted approximately 1 billion Polkadot ($DOT) tokens without authorization on the Ethereum network and sold them on the market.

Analyses suggest that a security vulnerability on the Polkadot Bridge may be the cause.

Analysts note that the losses experienced in $DOT are relatively small due to the limited and low liquidity of the token.

According to the data, $DOT continues to trade at $1.18, down approximately 3.6%, while South Korean exchanges Upbit and Bithumb have suspended $DOT deposits and withdrawals.

Polkadot has not yet made an official statement.

*This is not investment advice.