To make affected users holistic, polinetwork will continue functionality

Interaction platform PolyNetwork has begun a recovery process to recover lost funds to siphon about $ 610 million from a hacker’s smart network contracts. 

This was the biggest crypto heist the world has ever seen. 

A member of the PolyNetwork team reported yesterday that an attacker shared a private key with them with money left from his wallet. The project uses this address to extract $ 141 million of the remaining cryptocurrency, consisting of 28,953 Ethereum and 1032 packaged bitcoin.

Wrapped bitcoin is an Ethereum-based token tied to the bitcoin price.  

The only funding yet to be returned is $ 33 million, which Tether froze shortly after the attack. 

. @Tether_bu froze ~ $ 33 million at 0xc8a65fadf0e0ddaf421f28feab69bf6e2e589963 as part of # PolyNetwork hack

– Paolo Ardoino (@paoloardoino) August 10, 2021

PolyNetwork said it was confident the thaw would happen soon, adding: “We are in close contact with the Tether and are following it in accordance with the standard tether process. Tether is in the process of confirming with us the final defrosting process.”

Poly Network Hits Record $ 600.3 Million
Currently, PolyNetwork says it will”gradually restart cross-chain functionality for all entities, along with other functions, subject to full security approval.”

Historical network piracy
The network’s heist was not only the largest in the twelve-year history of crypto, it was also one of the most bizarre.

On the day the funds disappeared, PolyNetwork posted a screenshot of an email called” Dear hacker ” and posted it on Twitter. In it, the project warned the attacker of the seriousness of the situation and urged them to take back those looted.

– Poly network (@PolyNetwork2) August 10, 2021

On August 11, the exploiter partially recovered the mining, with various transactions totaling about $ 342 million at the time. Then again

Join the Discussion

  • BrokerEUR/USD
    IG 0.6pips (fixed) margin: 3.33%
    OANDA 1.3pips (variable) margin: 3.33%
  • Back to top