Poly Network Suffers Largest DeFi Hack in History
Main page News, Hacker Attack, DeFi
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Aug. 10, 2021

Poly Network, a protocol of interoperability between multiple blockchains, has suffered a massive $611 million hack, which makes it the largest hack in a decentralized finance (DeFi) space.

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The protocol's team wrote on Twitter that the project was attacked not only on the Ethereum network, but also Binance Smart Chain and Polygon. The assets had reportedly been transferred to hacker's two cryptocurrency addresses:

  • 0xC8a65Fadf0e0dDAf421F28FEAb69Bf6E2E589963 (~$273 million on the Ethereum network);
  • 0x0D6e286A7cfD25E0c01fEe9756765D8033B32C71 (~$253 million on Binance Smart Chain);
  • 0x5dc3603C9D42Ff184153a8a9094a73d461663214 (~$85 million on Polygon).

The developers have urged cryptocurrency miners of affected blockchains and exchanges to blacklist tokens coming from the addresses. As of press time, Tether has blacklisted ~$33 million of USDT on 0xC8...963 as part of the Poly Network hack. It remains unclear what is the nature of the hack so far.

All World Cards Hackers Leak 1 Million Credit Card Data to Darknet

Earlier in May, a hacker or group of hackers exploited a vulnerability in the liquidity platform's protocol Spartan Protocol to steal $30 million. The protocol, which runs on the Binance Smart Chain, suffered a hacker attack on its liquidity pool. The attack reportedly exploited a "flawed liquidity share calculation" in the SPARTA/WBNB liquidity pool, which enabled the attacker to withdraw the funds.

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