INSUBCONTINENT EXCLUSIVE:
A company specializing in transferring cryptocurrency stated Tuesday that hackers broke its security, stealing a record-setting haul
possibly worth $600 million.Poly Network put out a plea for the stolen Ethereum, BinanceChain and OxPolygon tokens to be shunned by traders
running wallets for storing cryptocurrency
The amount of money you hacked is the most significant one in the defi history, Poly Network said in a tweeted message to the thieves,
using a reference to decentralized financing involving cryptocurrency
The cash you took are from tens of thousands of crypto community members
Poly Network threatened police involvement, however also provided the hackers the possibility to work out a service
The US Department of Justice and FBI did not immediately react to ask for remark
We are sorry to reveal that #PolyNetwork was attacked and properties moved to hacker-controlled accounts, the business said in a series of
tweets.Poly Network posted online addresses used by the hackers, and contacted miners of impacted blockchain and crypto exchanges to
blacklist tokens coming from them.Poly Network did not reply to an AFP ask for comment, however Twitter users weighed in with computations
valuing the hackers' haul at some $600 million.As of completion of April, cryptocurrency thefts, hacks and fraud so far this year amounted
to $432 million, according to an analysis by CipherTrace
While this number might seem little when compared to previous years, a much deeper look reveals a worrying new trend-- DeFi-related hacks
now comprise more than 60 percent of the overall hack and theft volume, CipherTrace said in a posted report.That compares to 2019, when
defi hacks were virtually non-existent, according to CipherTrace.(This story has actually not been edited by TheIndianSubcontinent personnel
and is auto-generated from a syndicated feed.)
