The Defi cross-chain protocol Poly Network fell prey to the biggest crypto heist in history. August 10, Tuesday, hackers stole approximately $610 million worth of cryptocurrencies from Poly Network operating across the Binance Smart Chain (BSC), Ethereum (ETH), and Polygon. The fortune was then transferred into three different wallet addresses on the respective blockchains.
Source: PolyNetwork
O3 infiltration: the first step to the $610M hack
The panic began when hackers infiltrated O3, the largest cross-chain protocol. The hack was spotted when 03 announced it was struggling in processing $150 million worth of transactions. Following the initial fold of this legendary hack, Poly Network and O3 protocol suspended cross-chain functions.
Poly Network warned exchange services to block any transactions originating from hacked accounts. Poly Network also requested the hackers to return the stolen assets, while simultaneously threatening them with legal action.
$610M hack amount distributed
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