Poloniex Suffers a Huge Loss
Poloniex, a globally recognized digital asset exchange, lost over $100 million in assets in a hacking attack. On November 10, PeckShield Alert, a blockchain security and data analytics company, shared the details of the cyber attack, which left Poloniex with just over $4 million in assets.
Suspicion Transactions on the Poloniex Platform
According to an initial analysis by PeckShield Alert, the centralized crypto exchange Poloniex suffered a security hack on one of its wallets, labeled as Poloniex 4 on Etherscan. The suspicious outflows from the new wallet have left the Poloniex platform and affected a large sum of its fundsβover $100 million in crypto assets at the time of writing.
Reports indicate that a Tron chain address transferred large assets such as USDT, BTC, USDD, USDC, ETH, FLOKI, TUSD, and many other assets worth over $100 million in 357 transactions.
Initially, Poloniex is yet to officially confirm this loss. Instead, they tweeted that their wallets had been disabled for maintenance purposes and that they would update users once they enable the wallets again. However, Justin Sun later confirmed the theft and said that Poloniex maintains a healthy financial position and assures to fully reimburse the affected funds. Lastly, Sun mentioned that they are making efforts to collaborate with other exchanges to facilitate the recovery of these funds.
Rising Phishing and Crypto Theft Raises Concern
The latest rise in crypto scams, phishing incidents, and asset theft is raising alarming concerns among the crypto community. After reports of Poloniex’s $100 million asset theft surfaced, many users shared their concerns on social media platforms. Users expressed themselves with comments like βhackers are shorting cryptoβ and βSecurity is so poor these days.β
Hot Take: The Need for Enhanced Security Measures
The recent hacking incident at Poloniex serves as a stark reminder of the need for enhanced security measures in the cryptocurrency space. With rising phishing attacks and asset thefts, it is crucial for exchanges to prioritize cybersecurity to protect user funds and maintain trust within the community.
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