Poloniex Attacked: Over $60 Million Lost
The crypto exchange platform Poloniex was recently attacked, resulting in the loss of over $60 million of customer funds. The investigation into the identity of the attackers is ongoing, led by Justin Sun, the exchange’s leader.
Poloniex Makes Offering To Attackers
Nansen, a crypto analytics platform, revealed that over $68 million in tokens left Poloniex in the past day. The attacker stole assets in ETH, BADGER, REN, OKB, NEXO, and 170 other tokens. The biggest losses were seen in Ethereum and USDT, with around $11 million each.
Poloniex has launched an investigation and announced plans to reimburse users for their losses. The platform is also offering a 5% white hat bounty to the hacker to return the funds before engaging law enforcement.
Some community members praised these efforts to recover the fund, while others were critical of the measure.
Who Is Behind The Poloniex Attack?
It remains to be seen if the attacker will accept the offer. In the crypto space, cyberattacks have been conducted by state-sponsored hacker groups such as the Lazarus Group allegedly working for the North Korean Government.
Cryptocurrencies also operate as an important tool for law enforcement agencies to track down and cut funding for rogue entities due to blockchain technology’s transparency.
Hot Take: Security Measures in Crypto
The recent attack on Poloniex highlights the importance of robust security measures within crypto exchanges. While efforts are being made to recover the lost funds and identify the attackers, it serves as a reminder that cybersecurity remains a crucial aspect of the crypto industry’s integrity and trustworthiness.
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