Posted on 08/12/2021 9:20:45 AM PDT by dennisw
Hackers take $600m in 'biggest' cryptocurrency theft Updated: Poly Network has asked for 'hacked assets' to be returned by attackers - and it has apparently received millions back already.
A hacker has apparently exploited a vulnerability to steal $600 million from a blockchain finance platform in what could be one of largest cryptocurrency thefts to date.
The makers of Poly Network, a "DeFi" or decentralized finance platform that works across blockchains, said on Tuesday that an attacker stole about $600 million in cryptocurrencies.
The team behind Poly Network appealed to the hackers to "return the hacked assets".
"The amount of money you hacked is the biggest one in defi history. Law enforcement in any country will regard this as a major economic crime and you will be pursed. It is very unwise for you to do any further transactions. The money stole are from tens of thousands of crypto community members, hence the people. You should talk to us to work out a solution," the Poly Network team said.
Poly Network works across blockchains for Bitcoin, Ethereum, Neo, Ontology, Elrond, Ziliqa, Binance Smart Chain, Switcheo, and Huobi ECO Chain.
Poly Network listed three addresses the assets were transferred to.
Nothing is “safe” from hackers if you don’t understand your system at least as well as the hackers do.
Important context for this story:
Be careful to not lump Bitcoin with the cryptocurrency clown show. Bitcoin is the only truly decentralized digital currency, because it came first. The first successful decentralized currency network soaks up the available resources and makes the entry bar prohibitively high for a second decentralized network. So there can be only one, and BTC is it, forever. Everything else is ca-ca coin, comparatively.
Defi is based on ca-ca coin, so ca-ca happens...
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