$600 Million Lost in DeFi Hack as Poly Network Asks for Crypto Back

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.

 

Poly Network asked the hackers to return the money while requesting miners to blacklist the tokens that were allegedly pilfered.

 

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.

 

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.

 

 

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?

 

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