Poly network hacked and $42 billion in tokens

The Poly Network, a decentralized finance (DeFi) protocol that provides interoperability across multiple blockchains, has stated that it has temporarily suspended its services due to an attack.

The statement came on July 2, warning who interact with related parties and Assessment of the scope of affected assets. They also appreciated the help of cyber security professionals to help them solve this problem.

The DeFi protocol has also made it clear that once they make progress, they will inform the community. He asked his followers to “keep calm and trust that they are committed to the preservation of their property.”

According to the Title Of the alleged hacks, which Wu Blockchain shared, the attackers released assets on various networks. These include Avalanche, Ethereum, BNB Chain, OKC, Optimism, Fantom, Gnosis Chain, HECO, Metis, and Polygon.

As of this writing, the wallet contains nearly $3 million in tokens. This happens after recording a cap of US$42 billion Before blocking some assets and moving others to different addresses.

By data and analytics company lookonchainPoly network hackers mined many tokens and It sold 94 billion chiba inu (chip) for 360 ether (ETH), 495 million from Cook Finance (COOK) for 16 ETH and 15 million from RioDeFi (RFuel) for 27 ETH. Moreover, “we have noticed hackers moving assets and 1 ETH to new wallets, most likely for sale,” he said.

Given this, Chagpeng Zhao (CZ) subscriber On Twitter, Lookonchain’s findings noted, “This does not affect Binance users.” As CEO of the exchange, he made it clear that his platform does not support Poly network deposits. But he reveals that his security team is helping them in their investigations.

On the other hand, Metis, an Ethereum Layer 2 solution provider, advertisement who are in contact with the Poly Network team to minimize the impact of the attack and further assess the situation. In turn, he pointed out that Metis’ newly minted Binance Coin (BNB) and Binance USD (BUSD) were hacked by hackers. They have no liquidity available for salewhile PolyBridge Minted Polygon (METIS) is locked onto BNBChain by PolyNetwork and has limited liquidity.

As reported by CryptoNoticias, This isn’t the first time Poly Network has warned of a hack. In 2021, he had a cryptocurrency heist that is remembered as the largest in history. Although the hacker later returned part of the money in two parts.