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The hack that took place on the Poly Network was the largest in the history of the blockchain industry. Photo/IST
JAKARTA – A hacker managed to break into a cryptocurrency financial management service company Poly Network in a fantastic amount of USD 600 million or equivalent to Rp. 8.5 trillion. The BBC said the burglary is believed to be the largest cryptocurrency hack ever to date.
In an official statement via a twitter account, Poly Network apologized for the hacking attack. They say a number of cryptocurrencies such as Binance Chain, Ethereum and Polygon managed by Polygon Network have been transferred illegally.
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Like the BBC, Poly Network said the breach was one of the biggest in the world of blockchain finance. Poly Network said the burglary is a criminal act and must be held legally accountable.
It’s just that Poly Network still forgives the brains of the hack if it’s willing to return all illegally earned profits. “We are still open communication with you and immediately return the assets taken. Your action is a criminal act and it is very unwise if you transact with profits obtained illegally,” wrote Poly Network in their official twitter account.
Poly Network itself admits errors that exist in their system. The hackers said they took advantage of the gap between the contract calls that existed on the Poly Network. As a result, hackers can transfer millions of dollars in tokens to a separate crypto wallet created by hackers. Not kidding when transferring, the hacker took USD267 million Ether, USD252 Binace and USD85 million USDC tokens.
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Changpeng Zhao, Chief Executive of Binance, said his company was aware of the hack. It’s just that they can’t prevent the action because it’s in the Poly Network. “Currently we are coordinating with all of our security partners to proactively assist even though there are no guarantees,” he said.
The cryptocurrencies owned by Binance and Ether were formed independently. Where financial provider companies such as Poly Network are companies that manage and share all crypto currency transactions. This is what makes Binance and Ether unable to do more than the hacking action.
(wsb)
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