Hackers stole $611 million from the Poly Network cross-chain protocol
On August 10, unknown hackers breached the Poly Network cross-chain protocol and stole $611 million in various cryptocurrencies. The project team urged exchanges to block the stolen funds.
Important Notice:
We are sorry to announce that #PolyNetwork was attacked on @BinanceChain @ethereum and @0xPolygon Assets had been transferred to hacker’s following addresses:
ETH: 0xC8a65Fadf0e0dDAf421F28FEAb69Bf6E2E589963
BSC: 0x0D6e286A7cfD25E0c01fEe9756765D8033B32C71— Poly Network (@PolyNetwork2) August 10, 2021
“We regret to announce that Poly Network has been attacked on the Ethereum, Binance Smart Chain and Polygon networks. We urge miners of the affected blockchains and crypto exchanges to blacklist tokens coming from the addresses above,” the project team wrote.
According to preliminary estimates, the attackers stole $273 million on the Ethereum network, $253 million on the Binance Smart Chain and $85 million in USDC on the Polygon network. Funds were affected in tokens such as WBTC, WETH, RenBTC, DAI, UNI, SHIB, FEI and others. The hack was the largest in the DeFi sector in history.
After the theft, Tether blacklisted roughly $33 million worth of USDT on Ethereum that had been stolen during the attack.
. @Tether_to just froze ~33M $USDt on 0xC8a65Fadf0e0dDAf421F28FEAb69Bf6E2E589963 as part of the #PolyNetwork hack https://t.co/EviPTAkQJD
— Paolo Ardoino (@paoloardoino) August 10, 2021
A user going by the handle hanashiro.eth sent a transaction to one of the addresses containing the stolen funds. In the signature, he warned the hacker that the USDT held by him had been added to the blacklist.
In response, the hacker sent the user 13.37 ETH ($42,000) for the information.
LMFAO, what is going on.
The hacker just tipped hanashiro $42k in $ETH for that info. pic.twitter.com/KP4fmAZnUE
— Hsaka (@HsakaTrades) August 10, 2021
Binance CEO Changpeng Zhao also said he stood ready to help the project.
We are aware of the https://t.co/IgGJ0598Q0 exploit that occurred today. While no one controls BSC (or ETH), we are coordinating with all our security partners to proactively help. There are no guarantees. We will do as much as we can. Stay #SAFU. 🙏 https://t.co/TG0dKPapQT
— CZ 🔶 Binance (@cz_binance) August 10, 2021
“We are aware of the Poly Network exploit. While no one controls BSC (or ETH), we are coordinating with our security partners to actively help. We make no guarantees, but we will do all we can,” said CZ.
According to the latest data, the hackers moved assets to USDC and DAI on Curve.
The hacker has deposited $USDC and $DAI to the curve.
ETH:0xf8B5c45c6388c9Ee12546061786026aAeaa4b682We appeal token issuers to blacklist assets coming from the above address. @MakerDAO @circlepay
— Poly Network (@PolyNetwork2) August 10, 2021
The Poly Network protocol enables transferring tokens between different blockchains. It was developed by an alliance of teams behind the blockchain platforms Neo, Ontology and Switcheo.
In July, hackers stole more than $4 million from DeFi projects due to a vulnerability in ChainSwap.
Earlier, the decentralized project Impossible Finance on the Binance Smart Chain lost $500,000 due to an attack.
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