Cryptocurrency News: Biggest Theft Of Cryptocurrency, Hackers Stole Rs 4,465 Crore

NDTV Gadgets 360 Hindi

A firm that specializes in transferring cryptocurrencies said on Tuesday that hackers breached its security, leading to the transportation of $600 million (about Rs 4,465 crore).

Poly Network filed a petition for stolen Ethereum, BinanceChain and OxPolygon tokens that were lost by merchants running wallets that store the cryptocurrency.

Poly Network said in a tweet message to the thieves, using a reference to decentralized finance involving cryptocurrency, “the amount you hacked is the biggest in DeFi history.”

“The money you stole came from thousands of crypto community members.”

The Poly Network threatened police intervention, but also gave hackers a chance to “find a solution”.
The US Department of Justice and the FBI did not immediately respond to requests for comment.

The company said in a series of tweets, “We are sorry to announce that the #PolyNetwork was attacked” and assets were transferred to hacker-controlled accounts.

Poly Network posted the online addresses used by the hackers, and asked “miners of affected blockchain and crypto exchanges to blacklist the tokens coming from them”.

Poly Networks did not respond to an AFP request for comment, but Twitter users calculated the amount blown up by the hackers to be around $600 million (about Rs 4,465 crore).

According to an analysis by CipherTrace, as of the end of April, cryptocurrency thefts, hacks and frauds totaled $432 million (about Rs 3,210 crore) so far this year.

CipherTrace said in a posted report, “While this number may seem small compared to previous years, a deeper look reveals an alarming new trend – DeFi-related hacks. of, more than 60 percent.”
According to CipherTrace, Diffie hacks were virtually non-existent in 2019.

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