Poly Network has lost some crypto in an apparent hack. In fact, Poly Network has lost over $600 million in what is said to be the largest DeFi attack ever.
In a series of tweets, Poly Network named the locations of the missing crypto.
Important Notice:
We are sorry to announce that #PolyNetwork was attacked on @BinanceChain @ethereum and @0xPolygon Assets had been transferred to hacker’s following addresses:
ETH: 0xC8a65Fadf0e0dDAf421F28FEAb69Bf6E2E589963
BSC: 0x0D6e286A7cfD25E0c01fEe9756765D8033B32C71— Poly Network (@PolyNetwork2) August 10, 2021
Poly Network asked the hackers to return the money while requesting miners to blacklist the tokens that were allegedly pilfered.
We call on miners of affected blockchain and crypto exchanges to blacklist tokens coming from the above addresses.@Tether_to@circlepay
— Poly Network (@PolyNetwork2) August 10, 2021
Poly Network went so far as to post a “Dear Hacker” letter groveling for the return of the illicit funds while stating the perps will be pursued if they do not reverse their ill-gotten gains.
— Poly Network (@PolyNetwork2) August 10, 2021
While there have been many hacks and cyber flaws leading to crypto loss, this one is a doozy and is now the reigning champion when it comes to digital assets lost.
Biggest DeFi hack ever:
Ethereum – $273M
Binance Smart Chain – $253M
Polygon – $85MTotal – $611M#PolyNetworkHack
— Kumar Satyarth 🌞🍌 (@ksatyarth2) August 10, 2021
While it may be difficult for the perps to ever use the crypto this most recent theft highlights a weakness in the ecosystem and adds fuel to DeFi detractors while making intermediaries look more useful.
Can anyone say crypto regulations and compliance?