Skip to content
Herald Sheets

Herald Sheets

Live Cryptocurrency News

Follow Herald Sheets on Twitter, Facebook, Telegram, Please Read Our Disclaimer

  • Homepage
  • Start Trading
  • Guide
  • Crypto News
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Ripple (XRP)
    • Dogecoin (DOGE)
    • Cardano (ADA)
    • Litecoin (LTC)
  • Analysis
  • Blockchain
  • Mining
  • Reviews
    • Brokers
    • Exchanges
  • Regulation
  • Press Release
  • About Us
    • Contact Us
    • Privacy Policy
    • Editorial Policy
    • Submit Press Release
  • Disclaimer
  • Binance Coin (BNB)
  • Cryptocurrency
  • DeFi (Decentralized Finance)
  • Ethereum (ETH)
  • News

Poly Network Loses Crypto worth $600 Million to Hackers

Nathan Ferguson August 11, 2021 2 min read

A crypto transfer firm admitted losing a whopping $600 million worth of digital currency to hackers that managed to crack the company’s security walls.     


trade now

On Tuesday, Poly Network admitted that attackers accessed their network, accounting for the highest fraud in crypto history. The company declares the stolen OxPolygon, BinanceChain, and Ethereum token. Investors might have to avoid holding such assets at the moment.

Poly Network addressed its hackers through a tweet stating that the hacking activity is the highest to be seen in DeFi history. They also encouraged the crypto community that suffered the loss.

Besides PolyNetwork threatening police involvements, it urged hackers to work out a solution to return the assets. How will hackers respond to such claims?

Meanwhile, the FBI and the US DoJ failed to give an immediate response when requested to comment.

In multiple tweets, PolyNetwork expressed their sorrow on the attack. They also said that the fraudsters transferred the assets to hacker-controlled crypto accounts.

The crypto firm posted the hackers’ addresses and asked the affected miners to black-list coins from them. Though Poly Network did not respond to the amount stolen, Twitter users calculated and valued the loss at around $611 million.

The three addresses were:

  • Ethereum – $273 million
  • Binance – $253 million
  • Polygon – $85 million

By April end, CipherTrace estimated the crypto hack to total at around $423 million as far as 2021 is concerned.

CipherTrace warned that the number might be small but worth investors’ attention. Meanwhile, DeFi attacks seem on the rise, accounting for over 60% of crypto theft and hack volume.

Changpeng Zhao, Binance CEO, commented on the event also. He confirmed that their security partners would try any possible way to help. However, he did not guarantee success.

At the moment, hacking and theft remain a challenge on the cryptocurrency market. That is the reason most governments are now regulating the crypto market to secure investors. The best thing is that developers, exchange owners, and investors collaborate to ensure secured crypto undertakings.

Make sure to select crypto platforms with the best security to guarantee you a safe investment environment.

Stay around for future updates about the case.

Trade Now

Continue Reading

Previous: Must Crypto Trading Tips for Every Trader
Next: Crypto Market Power Is Shifting To The West

Related Stories

Metaverse Real Estate Sells For A Record $5,000,000 inside TCG World
3 min read
  • Metaverse
  • News
  • Press Release

Metaverse Real Estate Sells For A Record $5,000,000 inside TCG World

May 26, 2022
UST And LUNA Trading Volumes Soar As Terra 2.0 Airdrop Draws Closer
2 min read
  • Altcoins
  • Crypto Trading
  • Cryptocurrency
  • News
  • Terra (LUNA)

UST And LUNA Trading Volumes Soar As Terra 2.0 Airdrop Draws Closer

May 26, 2022
26 May Crypto Prices: SOL, DOT, ETH, AVAX Lose Up to 5%
2 min read
  • Altcoins
  • Avalanche (AVAX)
  • Bitcoin (BTC)
  • Cryptocurrency
  • Decentralized Cryptocurrency Exchange (DEX)
  • Ethereum (ETH)
  • News
  • Polkadot (DOT)
  • Price Analysis
  • Solana (SOL)

26 May Crypto Prices: SOL, DOT, ETH, AVAX Lose Up to 5%

May 26, 2022

Top 10 Crypto

Name Price24H (%)
bitcoin
Bitcoin (BTC)
$28,898.00
-1.78%
ethereum
Ethereum (ETH)
$1,773.89
-4.77%
tether
Tether (USDT)
$1.00
0.11%
usd-coin
USD Coin (USDC)
$1.00
-0.13%
binancecoin
BNB (BNB)
$303.68
-3.03%
ripple
XRP (XRP)
$0.390907
-1.11%
Binance USD
Binance USD (BUSD)
$1.00
-0.03%
cardano
Cardano (ADA)
$0.462788
-5.84%
dogecoin
Dogecoin (DOGE)
$0.084650
6.13%
polkadot
Polkadot (DOT)
$9.60
2.35%

Recent Posts

  • Metaverse Real Estate Sells For A Record $5,000,000 inside TCG World
  • UST And LUNA Trading Volumes Soar As Terra 2.0 Airdrop Draws Closer
  • 26 May Crypto Prices: SOL, DOT, ETH, AVAX Lose Up to 5%
  • ETH Gas Fee Hits Lowest Levels Since July 2021; Ethereum On Accumulation Phase
  • CharterPrime Review – Is CharterPrime Scam or a Proper Broker?
  • Do Kwon Intends To Make Terra Classic By Forking LUNA Blockchain
  • Grayscale Is Planning On Listing Its First European Exchange Traded Fund
  • Celsius Is Planning On Taking Its Crypto Mining Business Public
  • Terra Team May Not Redeem Promised Refunds, Especially For Smallholders – Whistleblower
  • Coinbase Adds BNB Chain And Avalanche To Token Swap Service
  • Richardson Lewis Review – Is Richardson Lewis Scam or a Proper Broker?
  • PancakeSwap Guide 2022 – Everything You Need To Know About This DEX
  • Polkadot-based Smart Contract, T3rn Deploys Latest Testnet
  • Uruguayan Authorities Launch Campaign Against Crypto Scams
  • GameStop Announces The Launch Of A Crypto Wallet

Disclaimer

This website may have financial affiliations with some (not all) of the brands and companies mentioned on this website. Information found on Herald Sheets represents those of writers quoted. It does not represent the opinions of Herald Sheets on whether to buy, sell, or hold any investment assets. Investors must do their own research before investing their money and only do so at their own risk.

Categories

You may have missed

Metaverse Real Estate Sells For A Record $5,000,000 inside TCG World
3 min read
  • Metaverse
  • News
  • Press Release

Metaverse Real Estate Sells For A Record $5,000,000 inside TCG World

May 26, 2022
UST And LUNA Trading Volumes Soar As Terra 2.0 Airdrop Draws Closer
2 min read
  • Altcoins
  • Crypto Trading
  • Cryptocurrency
  • News
  • Terra (LUNA)

UST And LUNA Trading Volumes Soar As Terra 2.0 Airdrop Draws Closer

May 26, 2022
26 May Crypto Prices: SOL, DOT, ETH, AVAX Lose Up to 5%
2 min read
  • Altcoins
  • Avalanche (AVAX)
  • Bitcoin (BTC)
  • Cryptocurrency
  • Decentralized Cryptocurrency Exchange (DEX)
  • Ethereum (ETH)
  • News
  • Polkadot (DOT)
  • Price Analysis
  • Solana (SOL)

26 May Crypto Prices: SOL, DOT, ETH, AVAX Lose Up to 5%

May 26, 2022
ETH Gas Fee Hits Lowest Levels Since July 2021; Ethereum On Accumulation Phase
2 min read
  • Blockchain
  • Cryptocurrency
  • Ethereum (ETH)
  • News
  • Price Analysis

ETH Gas Fee Hits Lowest Levels Since July 2021; Ethereum On Accumulation Phase

May 25, 2022
Copyright © All rights reserved. | DarkNews by AF themes.
  • RelevantRelevant(REL)$0.825.35%
  • TadpoleTadpole(TAD)$7.32-1.74%
  • SEENSEEN(SEEN)$2.05-2.27%
  • EvedoEvedo(EVED)$0.082301-0.80%
  • MarginswapMarginswap(MFI)$0.184213-2.11%
  • SakeTokenSakeToken(SAKE)$0.0127135.28%
  • WTF TokenWTF Token(WTF)$0.0113500.17%
  • BNSD FinanceBNSD Finance(BNSD)$0.005461-5.83%
  • RobotinaRobotina(ROX)$0.00266138.50%
  • CageCage(C4G3)$0.005010-3.67%