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Tag Archives: Hacking

Poly Network Drama is Over: Hacker Returns the Remaining $141 Million

The Poly Network drama seems to be officially over as the hacker has returned the remaining $141 million, according to a blog post from the DeFi project. ‘Full Asset Restoration’ Begins As per the announcement, at 8:39 AM UTC, Mr. White Hat gave his private key to the 3/4 multi-signature wallet in an embedded message, retrieving the 28,853 ETH and 1,032 WBTC (Wrapped BTC) left and giving Poly Network the green light to return full asset control to users. The team had to...

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PolyNetwork’s Hacker Returns All Funds on Ethereum and Refuses a $500K Bug Bounty

After swiping more than $600 million in various cryptocurrencies, the anonymous PolyNetwork hacker has successfully transferred back most of the funds. He also rejected a $500,000 bounty offer and outlined plans to return all funds. CryptoPotato reported the record-setting hack earlier this week when PolyNetwork’s blockchain experienced a massive security breach. The anonymous perpetrator swiped over $600 million in various digital assets. While stealing money from a DeFi...

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DAO Maker Hacked: Project Reports No ‘Detrimental’ Damages Despite 5,251 Affected Users

The multi-investment DeFi platform Dao Maker has become the latest victim to a security breach in the industry. The attackers have managed to affect over 5,000 accounts holding USDC. At first, Wu Blockchain took it to Twitter to indicate that the popular platform has fallen victim to a hack. The perpetrators supposedly transferred out USDC from about 9,000 or 10,000 such accounts and replace the funds with 2,261 ETH (worth approximately $7 million as of writing these lines)....

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Hacker Behind PolyNetwork’s $600M Exploit Started to Refund the Money

After saying he was prepared to refund the stolen funds from the infamous $610 million hack, the perpetrator has made the first transaction worth $1 million in USDC. CryptoPotato reported earlier on August 11th that the unknown hacker, who breached PolyNetwork’s security and stole over $600 million in various digital assets, had decided to return the funds. This came after dabbling with the idea of creating a new token and allowing the DAO to decide what to do with the...

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The $600M PolyNetwork Hack: What Exactly Happened and What Investors Should Be Aware of

PolyNetwork, an interoperability protocol enabling atomic-cross chain transactions between multiple major blockchains, was just exploited to steal $600 million worth of investor’s crypto on Polygon, Binance Smart chain, and Ethereum What Exactly Happened? As reported by CryptoPotato earlier today, PolyNetwork announced that they had been attacked at 8:38 am EST. They immediately listed the addresses to which the anonymous hacker had transferred their funds on the ETH, BSC,...

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

The interoperability protocol PolyNetwork has 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.  Earlier on August 10th, PolyNetwork announced on its Twitter account that it had experienced a security breach.   Important Notice:We are sorry to announce that #PolyNetwork was attacked on @BinanceChain @ethereum and...

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THORChain Hacked for a Second Time: $8 Million Compromised

The cross-chain DeFi protocol THORChain suffered another major hack for $8 million. Last week the protocol was drained with a further $8.3 million in a separate attack. THORChain Got Hit Again The decentralized cross-chain exchange THORChain experienced a “sophisticated attack” on its ETH Router. The protocol announced on Twitter that this time the perpetrators drained around $8 million worth of Ether: “THORChain has suffered a sophisticated attack on the ETH Router, around...

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Random Numbers Don’t Lie: A Closer Technical Look into Recent DeFi Hacks

As Ethereum gas fees soared to record highs during the 2021 bull market, rendering many decentralized finance (DeFi) protocols unusable for casual users, several projects were forced to deploy on other chains. This created a huge surge in demand for cross-chain mechanisms – called bridges – able to securely transfer user assets from one chain to another. Cross-chain bridges can generally be divided into centralized custodial bridges (CCB) and Decentralized non-custodial...

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Another DeFi Hack: THORChain Compromised With up to $7.6M Stolen

THORChain is the latest DeFi project to be exploited, with estimations showing that the hackers might have swooped up to $7.6 million in digital assets. The team behind the decentralized exchange promised to make whole all affected users and requested the perpetrators to contact them to discuss the return of funds. THORChain highlighted the hack on Twitter earlier on July 16th. The amount stolen remains unconfirmed as the initial estimations showed that it was more than...

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ChainSwap Exploited: Projects Using The Bridge Protocol Crashed 99%

ChainSwap, a cross-chain asset bridge and application smart chain, has become the latest victim of the increasingly worrying exploits happening in the DeFi ecosystem that has caused the sector to lose hundreds of millions of dollars since the start of the year. What is ChainSwap? As a hub for smart chains, the ChainSwap protocol acts as a defi bridge for projects and users to seamlessly move assets between different blockchains like Ethereum (ERC20), Binance Smart Chain...

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