Rampant hacking Cryptocurrency insecurity DeFi is the worst hit

By    12 Jan,2022

On the evening of August 10, Poly Network, a cross-chain interoperability protocol, tweeted that the smart contracts deployed on three networks of Ether, Coinan Smart Chain and Polygon were attacked at the same time, and hackers transferred 302 million USDT, 55,000 ETH, 2,000 Bitcoins and other assets, with a total loss value of $610 million.

With a loss of $610 million, this is by far the largest security incident in the history of the DeFi industry. Some researchers believe that the theft was "likely a long-planned, organized and prepared attack.

Later that night, Poly Networ called on exchanges and other crypto companies to blacklist the hacker's address in a tweet. Among them, Tether, the company that issued USDT, said it had frozen $33 million USDT in Poly Network's coin theft case. Zhao Changpeng of Coinan, Du Jun of Firecoin and Jay Hao of Okex all tweeted that they would help.

At the same time, Poly Network also released a letter to the hackers, hoping to communicate with them and urging them to "return the stolen assets".



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