Initial reports say that hackers stole almost $600 million in cryptocurrency in one of the greatest heists in history.
“The hackers targeted PolyNetwork, a decentralized finance platform that enables people to swap tokens across different blockchains,” the New York Post reported. “The theft affects tens of thousands of people, PolyNetwork said in a letter that was posted on Twitter and addressed to the anonymous hackers.”
The team at PolyNetwork issued a letter and a statement to urge the hackers to return the stolen crypto.
“Dear Hacker,” the letter said. “We are the poly network team. We want to establish communication with you and urge you to return the hacked assets.”
— Poly Network (@PolyNetwork2) August 10, 2021
“The amount of money you hacked is the biggest one in the defi history,” the letter said, referring to decentralized finance. “Law enforcement in any country will regard this as a major economic crime and you will be pursued. It is very unwise for you to do any further transactions. The money you stole are from tens of thousands of crypto community members, hence the people. You should talk to us to work out a solution.”
According to a recent article published by the Washington Post, researchers from blockchain security startup SlowMist revealed a total of $610 million worth of cryptocurrency was taken.
“After the initial hack, the crooks allegedly sent their crypto haul to various digital wallet addresses in an effort to cover their trail. SlowMist said they have ‘grasped the attacker’s mailbox, IP, and device fingerprints … and is tracking possible identity clues related to the Poly Network attacker,’” said the Post.
This so far includes many cyber currencies that have been able to halt the stolen riches. An example of this is Tether, which issues a digital currency known as a stablecoin, which has said that it has frozen $33 million USD in value of their stablecoin, as stated by their chief technology officer.
Meanwhile, Changpeng Zhao, CEO of the cryptocurrency exchange Binance, said his company is “coordinating with all our security partners to proactively help.”
But he appeared to not make any lead ways when he said, “there are no guarantees.”
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