The platform’s developers revealed that multichain interoperability protocol Poly Network fell victim to an exploit today, resulting in the loss of roughly $600 million worth of various cryptocurrencies.
The platform’s developers revealed.
“We are sorry to announce that PolyNetwork was attacked on Binance Chain, Ethereum, and, 0xPolygon,” the developers also stated in PolyNetwork’s Telegram channel. “We call on miners of affected blockchain and crypto exchanges to blacklist tokens coming from the above addresses.”
According to the announcement, there are currently three known addresses that allegedly belong to attackers: Ethereum (which currently holds $264.8 million worth of crypto), Binance Smart Chain ($250.8 million), and Polygon ($85 million).
As such, this is the largest cryptocurrency hack so far. The previous record was held by exchange Coincheck which lost about $530 million to hackers in January 2018.
What’s more, because PolyNetwork is an interoperability protocol, there may well be other projects that use PolyNetwork that are also affected. The protocol’s website features dozens of other crypto projects with which it is integrated.
