Biggest Crypto heist: Hackers steal over $600 million, return $342 million later
As per reports, the total value of all the stolen crypto tokens was pegged at roughly $604 million which has now surpassed the $460 million hack from Crypto exchange, Mt Gox seven years ago.
New Delhi: Craze for crypto cryptocurrencies is getting over people’s minds all over the world and on the other hand hackers are eyeing to breach the security for an online heist.
In what appears to be the largest cryptocurrency theft so far, hackers have managed to steal around $610 million and extracted thousands of tokens from Poly Network.
As per reports, the total value of all the stolen crypto tokens was pegged at roughly $604 million which has now surpassed the $460 million hack from Crypto exchange, Mt Gox seven years ago.
Poly Network, a decentralised finance platform that allows users to swap tokens across different blockchains, reported that it had been hacked and urged the hacker to return the stolen funds through mediation nor legal actions will be taken against them.
It is believed to be the biggest theft of cryptocurrencies ever. Stolen cryptocurrencies include Ethereum and other digital currencies. The network also shared the online addresses used by the hackers and appealed that money they stole belongs to thousands of members of the crypto community.
Somehow hacker has agreed to return the amount stolen from the network as after some time he started sending small amounts in different phases to the addresses provided by the company. Some amounts have been transferred to three different addresses.
Poly Network took to Twitter to announce that $342 of assets had been returned so far but still $268M on Ethereum is remaining.
$342 million (As of 12 Aug 08:18:29 AM +UTC) of assets had been returned:
Ethereum: $4.6M
BSC: $252M
Polygon: $85MThe remaining is $268M on Ethereum
— Poly Network (@PolyNetwork2) August 12, 2021
DeFi platforms allow users to complete crypto transactions directly without gatekeepers such as banks or exchanges. This sector has boomed over the last year as plaforms are now handling more than $80 billion worth of digital coins.