CyberNews Briefs

Hackers take $600m in ‘biggest’ cryptocurrency theft

A hacker has allegedly leveraged a vulnerability to steal $600 million from a blockchain finance platform in an attack that is being called the largest cryptocurrency theft to date. On Tuesday, the victim, Poly Network, announced the attack. The platform targeted was DeFi, a decentralized finance platform that works across blockchains. Poly Network stated that they appealed to the hackers to return the hacked assets, stating that law enforcement will regard the attack as a major economic crime. The company then went on to state that the stolen money belonged to tens of thousands of crypto community members.

Poly Networks works across blockchains for Bitcoin, Ontology, Elrond, Ethereum, Binance Smart Chain, Huobi ECO Chain, and Switcheo. Poly Network was able to uncover three addresses that the assets were transferred to and called on miners of the affected blockchain and crypto exchanges to blacklist any tokens coming from the identified addresses. Poly Network stated that it had received roughly $4.7 million back from the hackers so far, with the most returns being Ethereum, BSC, and Polygon.

Read More: Hackers take $600m in ‘biggest’ cryptocurrency theft

OODA Analyst

OODA Analyst

OODA is comprised of a unique team of international experts capable of providing advanced intelligence and analysis, strategy and planning support, risk and threat management, training, decision support, crisis response, and security services to global corporations and governments.