Biggest DeFi Hack? PolyNetwork Exploited for $600M in ETH, BNB, and USDC

PolyNetwork has become the latest victim to hackers with a record-breaking amount of over $600 million stolen. 

Poly Network is a group for realizing blockchain interoperability, building the next generation internet, had been exploited on Binance Smart Chain, Polygon, and Ethereum. The perpetrators have set a record within the decentralized finance space by swiping more than $600 million from at least three wallet addresses. PolyNetwork announced on its Twitter account on August 10th, that it had experienced a security breach.  

The team behind the project indicated that assets stored on Binance Smart Chain, Ethereum, and Polygon had been transferred to other addresses belonging to the hackers.  

The ETH address, which has already been reported to be involved in the hack, currently contains 2,858 ETH tokens with a value of $266,5 million. 

The Binance Smart Chain wallet has more than 6,610 BNB tokens. The value in USD terms represents just a bit over $252 million. 

Lastly, the Polygon address shows $85 million. Ultimately, the total amount stolen exceeds $600 million as of writing these lines.  

PolyNetwork also urged cryptocurrency exchanges to blacklist any tokens coming from these addresses.  

Additionally, the team promised to “take legal actions” and asked the hackers to return the stolen funds.  

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