Hacker steals $600 million from Poly Network in biggest ever cryptocurrency hack

Some days, reading Twitter is like watching a train wreck unfold before you.  Yesterday was like that.  Catalin Cimpanu reports:

An unidentified hacker has stolen more than $600 million worth of cryptocurrency from Poly Network, a decentralized finance (DeFi) platform based in China.

From the outset, it was clear that this was not going to be just another cryptocurrency hack.  Not only was it quickly described as the biggest in history, but Poly Network published an open letter to the hacker(s) urging the hacker(s) to contact them and to return funds.  They also asked mining platforms and exchanges to help by tracking the movement of funds and  freezing accounts.

On Twitter, companies like HuobiTetherOKEx, and Binance said they managed to freeze some of the stolen assets, but only a small portion of the larger pot.

Read more on The Record, where Cimpanu also links to a thread with an analysis of how this might have been executed.

 

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