Friday, April 19, 2024

Hackers Steal $600 Millions in a Major Cryptocurrency Theft

Hackers have stolen $600 Millions in a major cryptocurrency theft that appears as the most cryptocurrency stolen ever said Ploy Network. A company that specializes in cryptocurrency transfers said on Tuesday that hackers had breached its security by hitting a record export, potentially worth $600 million.

Poly Network demands that stolen Ethereum, BinanceChain, and OxPolygon tokens be avoided by merchants managing cryptocurrency “portfolios.”

“The amount you hacked is the largest in Defi’s history,” Poly Network said in a Twitter message to the thieves, referring to decentralized cryptocurrency funding.

“The money you stole came from tens of thousands of members of the crypto community.”

Poly Network threatened to involve the police, but they also provided hackers an chance to “find a solution”.

The US Department of Justice and the FBI did not respond to requests for comment immediately.

“Sorry #PolyNetwork was attacked” and assets moved to hacker-controlled accounts, the company said in a series of tweets.

Poly Network publishes the online addresses used by hackers and asks “miners from affected blockchains and crypto exchanges to add the tokens from which they originate to a blacklist”.

Poly Network did not respond to AFP’s request for comment, but Twitter users evaluated the calculations and estimated the hacker’s hand at around $600 million.

According to analysis by CipherTrace At the end of April cryptocurrency theft, hacking and fraud totaled $432 million this year.

“While this number may seem small compared to previous years, a closer look reveals a worrying new trend – DeFi-related hacks now account for more than 60 percent of all hacks and thefts,” the report said.

Compared to 2019, according to CipherTrace, there were practically no defibrillation hacks.

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