A group of cyber hackers has ripped off more than $600 million in a large group of cryptocurrencies in what is being called one of the largest thefts in history, as stated by news reports.
“The hackers targeted PolyNetwork, a decentralized finance platform that enables people to swap tokens across different blockchains,” as reported by the New York Post. “The theft affects tens of thousands of people, PolyNetwork said in a letter that was posted on Twitter and addressed to the anonymous hackers.”
“Dear Hacker,” stated the letter. “We are the poly network team. We want to establish communication with you and urge you to return the hacked assets.”
“The amount of money you hacked is the biggest one in the defi history,” stated the letter, apparently in reference to decentralized finance. “Law enforcement in any country will regard this as a major economic crime and you will be pursued. It is very unwise for you to do any further transactions. The money you stole are from tens of thousands of crypto community members, hence the people. You should talk to us to work out a solution.”
— Poly Network (@PolyNetwork2) August 10, 2021
A group of researchers at blockchain security firm SlowMist stated that more than $610 million worth of cryptocurrency had been stolen, reported the Post.
“After the initial hack, the crooks allegedly sent their crypto haul to various digital wallet addresses in an effort to cover their trail. SlowMist said they have ‘grasped the attacker’s mailbox, IP, and device fingerprints … and is tracking possible identity clues related to the Poly Network attacker,'” stated the Post.
As of yet, several different cyber currencies have been able to freeze the stolen assets. For example, Tether, which has issued a digital currency that has become known as stablecoin, stated on Twitter that the company had forcibly frozen over $33 million worth of the coin, as stated by the chief technology officer.
Also, the CEO of the cryptocurrency exchange Binance, Changpeng Zhao, went on to state that his company is “coordinating with all our security partners to proactively help.”
He was, however, still not entirely optimistic. “There are no guarantees,” he added.
We are aware of the https://t.co/IgGJ0598Q0 exploit that occurred today. While no one controls BSC (or ETH), we are coordinating with all our security partners to proactively help. There are no guarantees. We will do as much as we can. Stay #SAFU. 🙏 https://t.co/TG0dKPapQT
— CZ 🔶 Binance (@cz_binance) August 10, 2021
As of late, Hackers have been causing a fair amount of chaos, Some hacker groups deploying the use of ransomware attacks aimed at companies and then issued demands for cryptocurrencies in order to unfreeze their systems.
Back in May, Colonial Pipeline was forced to pay roughly $5 million in ransom to a group of Eastern European hackers who had taken control of the energy company’s pipeline system, as reported by Bloomberg News.