• What is the most significant DeFi hack? PolyNetwork has been exploited for $600 million in ETH, BNB, and MATIC

  • PolyNetwork, an interoperability protocol, has been used on Binance Smart Chain, Polygon, and Ethereum. The perpetrators broke a decentralized finance record by stealing more than $600 million from at least three wallet addresses.

    PolyNetwork had earlier announced on its Twitter account on August 10th that it had experienced a security breach.

    Smart Chain, Ethereum, and Polygon had been transferred to the hackers’ other addresses.

    The ETH address, which has already been linked to the hack, currently contains 2,858 ETH tokens worth $266,5 million.

    More than 6,610 BNB tokens are stored in the Binance Smart Chain wallet. In USD terms, the value is slightly more than $252 million.

    As of this writing, the total amount stolen exceeds $600 million.

    PolyNetwork also urged cryptocurrency exchanges to blacklist tokens issued by these addresses.

    Furthermore, the team promised to “take legal action” and demanded that the hackers return the stolen funds.

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