Hackers managed to hack the Poly Network platform and withdraw $ 611 million in cryptocurrencies. This was reported in Twitter the company itself. She also noted that “the amount of stolen funds was the largest in the history of DeFi (the sector of decentralized finance).”
Poly Network is a decentralized financial platform that allows you to exchange tokens and cryptocurrencies between different blockchains. According to The Block, hackers either gained access to the key for signing transactions or discovered a vulnerability in the signing process in Poly Chain smart contracts, which allowed attackers to generate their own transactions. As a result of the attack, hackers withdrew $ 273 million in Ethereum tokens, $ 253 million in Binance Smart Chain tokens and $ 85 million in USDC stablecoins on the Polygon network.
Poly Network urged the cryptocurrency community to track all transactions with stolen tokens and freeze them. Tether has already announced that it was able to freeze $ 33 million USDT stablecoins that were linked to the attack on the Poly Network.
According to CipherTraceThe decentralized finance sector lost $ 361 million in the first seven months of this year alone as a result of hacker attacks. This is almost three times more than in the entire last year. Overall, 76% of cryptocurrency theft hacker attacks this year are in the DeFi sector.
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