Cross-chain protocol Poly Network suffers massive $ 610 million hack

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Cross-chain protocol Poly Network suffers massive $ 610 million hack By Hannah perez

Cyber ​​hackers carried out a record-breaking attack on Poly Network. The biggest DeFi hack in history has been cataloged.

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The multi-chain interoperability protocol Poly Network was the victim of a hacking attack that resulted in the loss of at least $ 610 million. The hack it has been listed as the largest attack targeting a DeFi protocol in history.

Poly Network He reported the massive attack through his Twitter account on Tuesday. The attackers exploited the protocol in three blockchains: Binance Smart Chain, Polygon and Ethereum, from where they extracted the funds in various cryptocurrencies.

We are sorry to announce that PolyNetwork was attacked in BinanceChain, Ethereum and 0xPolygon […] We call on the miners of the affected Blockchains and cryptocurrency exchanges to blacklist the tokens from the following addresses.

The team of Poly Network He also promised that he would take legal action and asked the hackers to return the stolen funds.

The biggest DeFi attack in history?

Poly Network is a protocol to exchange tokens across multiple blockchains, including Bitcoin, Ethereum and Ontology. It was formed by an alliance between the teams behind the platforms Blockchain Neo, Ontology and Switching.

According to the information, the attack was carried out from at least three cryptographic addresses. As such, resulted in the loss of more than USD $ 600 million, distributed in several tokens based on the strings where the protocol was exploited. There are currently three known addresses that allegedly belong to the attackers: an address from Ethereum (which has USD $ 264.8 million in tokens), one of Binance Smart Chain (with USD $ 250.8 million) and one of Polygon (with about USD $ 85 million).

As reported The Block, as a result of the robbery, Tether has blacklisted the tokens USDT based on Ethereum that were stolen in the attack – approximately USD $ 33 million in USDT. This means that attackers will no longer be able to move those funds. Being a stablecoin centralized, the company behind (Tether) you can freeze sayings at will tokens.

For his part, the CEO of Binance, Changpeng Zhao, commented on Twitter that his team was aware of the hack and that they would work to support the protocol. “While no one controls BSC (or ETH), we are coordinating with all of our security partners to proactively assist. There are no guarantees. We will do everything we can“, said.

Meanwhile, the attack is having broader implications. Some platforms based on Poly Network they are being affected. Between them, O3, a trade group that uses Poly Network in order to exchange tokens between different Blockchain, has had to discontinue its cross-chain functionality.

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It should be noted that, so far, there is no report detailing how the attack was carried out. Researcher Igor Igamberdiev, from The Block Research, has suggested that the attackers managed to create a fake transaction signature to steal the funds.


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Sources: The Block, Twitter, Decrypt,

Hannah Estefanía Pérez’s version / DailyBitcoin

Image from Unsplash

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