Cryptocurrency Investors Suffered 4,545 Crore Loss; Cyber Attack Platform Caught Thieves

Thieves of the digital world i.e. hackers have stolen more than $ 600 million (about Rs 4,545 crore) of Ethereum and other cryptocurrencies.
Image Credit: Bankrate.com
Image Credit: Bankrate.com

Thieves of the digital world i.e. hackers have stolen more than $ 600 million (about Rs 4,545 crore) of Ethereum and other cryptocurrencies. Blockchain technology-based platform Poly Network gave information about the theft through a tweet on Tuesday. There have been several incidents of cryptocurrency thefts this year, but this is the first time such a huge theft has happened.

Thousands of investors suffer losses due to theft

This is the biggest cryptocurrency theft in the world of Defi (Decentralized Finance). Poly Network is a platform that allows users to trade crypto tokens. It says that thousands of investors have been harmed in this theft of millions of dollars of cryptocurrency.

The affected platform gave addresses of thieves

In a tweet on Tuesday morning, Poly Network said, 'We have to say with sadness that there was a cyberattack on #PolyNetwork.' He told that millions of dollars of crypto investors were stolen in the burglary. He has also given the addresses of the thieves to whom the stolen money has been transferred.

Image Credit: Prosperity Advis
Image Credit: Prosperity Advis

Warned of legal action

"We urge affected blockchain miners and crypto exchanges to blacklist tokens originating from these addresses," it said. Poly Networks is made up of a consortium of teams building multiple blockchain platforms such as Neo, Ontology and Switchco. It has asked the hackers to return the cryptocurrency, warning them of legal action.

Most Ethereum Tokens Stolen

Most (of the amount) Ethereum tokens are believed to have been stolen in the burglary. $273 million in Ethereum, $253 million in Binance Smart Chain (BSC) and $85 million in US Dollar Coin (USDC) tokens are said to have been stolen from the Polygon Network.

Stablecoins worth 3.3 million stolen immediately freeze

Stablecoin Tethers worth $33 million were also stolen in a breach on Poly Network's platform, but they were immediately frozen. This means that the stolen tokens will not be able to be used by hackers. The cryptocurrencies that have very little volatility are called stable coins. They are generally used for portfolio diversification.

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