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Cryptocurrency theft – Hackers attacked Poly Network and stole Ether, Binance coins and USDC tokens worth $ 600 million

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Hackers stole cryptocurrencies worth around $ 600 million in arguably the largest cyberattack of its kind in history. The blockchain site (digital transaction ledger) of Poly Network, which was hacked, explained that the theft was possible thanks to the use of imperfections in the system, reports the BBC.

In a letter posted on Twitter, Poly Network addressed the hackers directly.

“Dear Hackers, this is the Poly Network team. We would like to establish communication and urge you to return the hacked goods. The amount of money you hacked is the largest defi in history (short for decentralized finance, as the cryptocurrency trading market is called),” the letter reads.

Is this the biggest cryptocurrency theft in history?

It added that “in any country, this is a serious economic crime” and that hackers would be prosecuted. “The money you stole belonged to thousands of members of the cryptocurrency community, that is, to people. You should talk to us about a solution” – emphasized.

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Hackers stole cryptocurrencies worth around $ 600 million

Hackers took Ether worth $ 267 million, Binance coins worth $ 252 million. and about $ 85 million. into USDC token – reports the BBC.

Changpeng Zhao, president of Binance, said the company knows about the attack. He added that the group is working with security partners and is actively trying to help. “We cannot give any guarantees,” he stressed.

Poly Network is a cryptocurrency exchange platform – it is used for transmission blockchain tokens to other networks. The Ether and Binance cryptocurrency systems were developed independently of each other and do not operate on the same principles, explains the BBC.

He adds that CipherTrace data shows that the cryptocurrency sector lost $ 474 million in fraud in the first seven months of this year.

Main photo source: Shutterstock

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