$600 Million Cryptocurrencies Stolen By Hacker Who Is "not So Interested In Money"

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Tuesday Cross-chain DeFi network, Poly Network was the latest victim of hackers who have reportedly stolen $600 million worth cryptocurrencies of which $300 million of which were Ethereum.

Poly Network, the second interoperability protocol backed by the government, was founded by the creator of Chinese blockchain maker Neo and the clients of the company are Binance, Ethereum and Polygon.

The company announced via Twitter, "We are sorry to announce that #PolyNetwork was attacked."

The team managed to identify three addresses where the money was transferred. Adding them to another tweet, the team posted, " We call on miners of affected blockchain and crypto exchanges to blacklist tokens coming from the above addresses."

The addresses disclosed by the company showed that among the stolen assets, 2858 were ether tokens amounting $267 million. There were 6,610 Binance coins worth $252 million and USDC tokens on the Polygon Network worth $85 million.

In 2014, a $460 million hack on Mt. Gox led to the bankruptcy of the company. This incident is being dubbed as the biggest crypto-hack in history.

According to reports, the hack was possible on the coin-swapping network because of a cryptography issue. Anyswap, another such company, also got exploited due to a similar problem and had $7.9 million stolen.

In the aftermath of the hack, trading pool O3 suspended its cross-chain operations as it also used Poly Network.

Tether has reportedly blacklisted $33 million worth USDT coins which cannot be moved anymore. According to BlockCrypto.com, the hackers have also rewarded one user with 13.37 ETH or $42,000 for informing them to not move the blocked coins to avoid identification.

SlowMist, a blockchain-security enterprise, has announced that it has tracked the email, ip address and device fingerprints of the hacker and will work on revealing the identity. The organization managed to do it with help from other crypto exchanges like Hoo.

Binance CEO, Changpeng Zhao tweeted after the incident, "We are aware of the [poly.network] 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."

In a power-move, the hacker returned some of the coins back to the same wallet but with a message. If said, "It would have been a billion hack if I had moved remaining shitcoins! Did I just save the project? Not so interested in money, now considering returning some tokens or just leaving them here"

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