However, Poly politely asked the hackers to return all of the assets. https://www.nasdaq.com/articles/cro...dreds-of-millions-potentially-lost-2021-08-10 Cross-Chain DeFi Site Poly Network Hacked; Hundreds of Millions Potentially Lost Cross-chain decentralized finance (DeFi) platform Poly Network was attacked on Tuesday, with the alleged hacker draining roughly $600 million in crypto. Poly Network, a protocol launched by the founder of Chinese blockchain project Neo, operates on the Binance Smart Chain, Ethereum and Polygon blockchains. Tuesday’s attack struck each chain consecutively with the Poly team identifying three addresses where stolen assets were transferred. Combined, the three addresses hold more than $600 million in different cryptocurrencies, including USDC, wrapped bitcoin (WBTC), wrapped ether (WETH) and shiba inu (SHIB), blockchain scanning platforms show. Related: DeFi Has Accounted for Over 75% of Crypto Hacks in 2021 “We call on miners of affected blockchain and crypto exchanges to blacklist tokens coming from the above addresses,” the Poly team tweeted. The $600 million figure would place the Poly Network hack among the largest in crypto history. Tether froze approximately $33 million in relation to the hack, Tether CTO Paul Adroino tweeted. About one hour after Poly announced the hack on Twitter, the hacker tried to move assets including USDT through the Ethereum address, into liquidity pool Curve.fi. The transactions was rejected.
No. The Poly Network and Polygon Matic are two different things completely. In fact, Polygon Matic is on fire today because the gas fees are going through the roof on Ethereum again, so they are in good shape.
Mainly because it's emerging technology. It's actually the hacks that ultimately secure the overall network over time. It's sort of like building a brand-new type of boat that seems awesome at first but eventually shows leaks in certain places over time. If it weren't for the leaks, you'd never know the weaknesses in the boat's structure. But because the leaks show up, you can re-engineer the next boat to not have that same leak problem.
and the bitcoin price hardly went down. and the bitcoin investors are immune to what the hackers did. and the bitcoin investors are unfazed. This hacking is probably too trivial to scare bitcoin investors. ______________________
I never heard of Poly Network before yesterday, I guess it's used for bridging between blockchains (ie. Eth, Bsc, etc) Boxmining lost a "significant portion of his crypto assets" was a big surprise to me. He's been around for a long time and I would have thought he knew "nacho keys, nacho coins" I have 6 figures $ worth of crypto on a defi platform, so I'm not saying it's not worth the risk given a certain amount of yield, but if I lose all that crypto, I'll be ok, it's not a significant portion of my crypto portfolio The hacker has returned $280M worth of crypto already and he/she/they may return most of the amount, minus the ones that were already given away I hope Boxmining gets restored most of his cryptos. Michael is a good guy, tries to educate others through his YouTube channel and website and Twitter
Yesss as i have some investements on matic In addition, I saw on the news that the funds had been returned.
The whole story is wild. They stole 600+ US dollars, then returned half, then claimed they "did it for fun", and that "they're not very interested in money" ...while keeping 300 million.