$ 611 million gone: the biggest DeFI hack in history hits the Poli platform

11 August 20213 years ago babelfish

In what amounts to the biggest DeFi hack in history and one of the biggest the digital currency industry has ever seen, a hacker stole more than $ 611 million in virtual funds from the cross-chain Poly network.

The Poly Network allows users to trade tokens across multiple blockchains, including Ethereum, Binance Smart Chain, Polygon, and others. Poly Network announced the attack on Twitter on August 10th.

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

If we examine the addresses in question, we see the hackers in action

The stolen resources are, in principle, the following:

$ 273 million in Ethereum
$ 253 million in BSC.
$ 85 million on Polygon.

The stolen assets include WETH, WBTC, RenBTC, DAI, UNI, SHIB and FEI. The hacker then attempted to deposit USDC and DAI on the DeFi Curve platform.

Although it is not yet known who the hacker is, blockchain security firm Slow Mist claimed to have discovered his email account, IP address, and fingerprint of the device. This would be enough for law enforcement to locate people if it is accurate information. In addition, Poli asked to freeze the accounts linked to hackers on all possible platforms.

This story reveals the great strengths and weaknesses of blockchain technology and the virtual currency system. Especially in DeFIs or exchanges, hacker attacks are possible, but then the transparency of the blockchain makes it easy to follow the loot. If anything, what is needed is a general agreement to exclude the operators who steal these values, so that they cannot use them in any way.

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Article 611 million dollars disappeared: the biggest DeFI hack in history hits the Poli platform comes from ScenariEconomici.it .

This is a machine translation of a post published on Scenari Economici at the URL https://scenarieconomici.it/611-milioni-di-dollari-spariti-il-piu-gross-hack-di-defi-della-storia-colpisce-la-piattaforma-poli/ on Wed, 11 Aug 2021 20:43:03 +0000.