Poly Network Suspends Operations After Hackers Mint Tokens
Interoperability platform Poly Network suffered a major hack over the weekend with the attacker exploiting a vulnerability in the cross-chain bridge protocol and creating billions of tokens from thin air. advertisement The hackers created large amounts of different cryptocurrencies, such as BUSD, BNB, and SHIB, on various blockchains. They also managed to generate 24 billion BUSD and BNB on Metis, 999 trillion SHIB on the Heco blockchain, and millions on other chains. At one point, the total value in the attacker’s wallet reached around $43 billion worth of cryptocurrency. However, because of limited market demand, it is difficult for them to sell these tokens and make significant profits. Currently, the estimated gains from the hack range between $400,000 to $4 million. On Sunday, the Poly Network made the announcement noting: “Dear users, As we continue to address this situation, we regret to inform you that our services will remain temporarily su...