Poly Network hacked - 57 crypto pairs affected - withdraw your coins now! -

[bullrun2024bro]

The cross-chain bridge platform Poly Network has been exploited again and it looks like 57 crypto assets are affected.

If you're having any assets on Poly Network try to get them off as fast as you can.

In a July 2 tweet, Poly Network confirmed it became the latest decentralized finance (DeFi) exploit victim after attackers managed to manipulate a smart contract function on the cross-chain bridge protocol, adding it will be temporarily suspending services.

In the most recent update, the team revealed that the exploit affected 57 crypto assets on 10 blockchains, including Ethereum, BNB Chain, Polygon, Avalanche, Heco, OKX and Metis.

Affected assets: https://docs.google.com/spreadsheets/d/1NK1v-hvaPKQviZqowtwwOm3swF0vNNN_vhFivbmRTqs/edit#gid=1942611831

Source: https://cointelegraph.com/news/poly-network-users-withdraw-bridge-exploit-affects-57-crypto

About $5m were already transferred out:



Source: Twitter/PeckShield

Dedaub analytics breaking it down:

Dedaub explained that the attack wasn’t complex, as no logic bugs were exploited. It added that Poly Network took seven hours to respond, which cost the platform $5.5 million in stolen crypto. Luckily, a lack of liquidity in many of the tokens prevented further losses.

Source: https://twitter.com/dedaub/status/1675516729349292032

Poly Network's service is temporarily suspended:



Source: https://twitter.com/PolyNetwork2/status/1675591279005106178

Stay safe out there guys. Always use your own wallet. Don't leave your funds on 3rd party wallets, CEXs or other providers.

(If this isn't the correct board, please move the thread).

[stompix]

So what kind of animal is this "Interoperability Heterogeneous Protocol?"
I feel like I'm getting too old for this new crypto scene where nothing is simple anymore.

Anyhow, what I wanted to add at this point, and it's again and again, the supreme irony, the moment such a hack occurs, every single entity out there, from Defi to Cex, Wallets to Investing platforms, every single preacher of decentralizations run to Twitter an asks every single exchange to seize the funds! At one point is freedom and decentralization and censorship resistance the next time please find a way to block every single penny!

Second thing, why was this thing even alive after that $600m hack two years ago?

[bullrun2024bro]

Anyhow, what I wanted to add at this point, and it's again and again, the supreme irony, the moment such a hack occurs, every single entity out there, from Defi to Cex, Wallets to Investing platforms, every single preacher of decentralizations run to Twitter an asks every single exchange to seize the funds! At one point is freedom and decentralization and censorship resistance the next time please find a way to block every single penny!

100%. The irony is hard to grasp, lol.

Second thing, why was this thing even alive after that $600m hack two years ago?

No clue, tbh. I guess some people just don't care. At least as long as they are not personally affected, but when they are, they will cry even harder.

[Lucius]

So what kind of animal is this "Interoperability Heterogeneous Protocol?"
I feel like I'm getting too old for this new crypto scene where nothing is simple anymore.

Yes, it seems we're getting older for all these new super-crypto innovations. They are deliberately complicated to make it seem that their existence is justified, while at the same time they are a real Swedish table for every little skilled hacker who wants to help himself from that table. However, one should not ignore the bad guys inside the platform who just want to go on the vacation of their dreams, and how to resist the billions that circle around you and literally beg you to take them

Second thing, why was this thing even alive after that $600m hack two years ago?

I guess no one cares about that hack, and I doubt anyone will care about this one now - to me this DeFi honestly seems like an ideal platform for money laundering - you just need to know how it works

I've always appreciated some other things with the name Poly more

[Bitcoin_Arena]

So what kind of animal is this "Interoperability Heterogeneous Protocol?"
I feel like I'm getting too old for this new crypto scene where nothing is simple anymore.

Or maybe you are not getting too old but rather no longer excited with the new buzzwords that keep coming each year meant to fish out money in the name of the next biggest thing after Bitcoin and Ethereum success 

I Still find it very fascinating that people rush to crypto for mostly "decentralization" reasons but then go ahead to trust and keep the crypto they just bought in Centralized exchanges and Decentralized finance protocols". It makes no damn sense at all!

[Yamane_Keto]

Second thing, why was this thing even alive after that $600m hack two years ago?

I think the reason is that those hacked coins have been returned Nearly all of the $600 million stolen in a huge crypto heist has been returned — but there’s a catch

Poly Network said all but $33 million of the $600 million worth of stolen digital coins have now been returned.Hacker who stole from Poly Network could be allowed to keep $500K
In an unusual turn of events Wednesday, an anonymous person claiming to be the hacker said they were "ready to return" the funds. The identity of the hacker, or hackers, is not known.

There's $33 million gone and that's enough for someone to live a life of luxury for the rest of their lives, but since no one has been held accountable, someone else may have decided to retire early.

People's memory is weak and they quickly forget. Perhaps the hacker will decide again to return the 4 million and keep the 1 million for himself.
If a person decides to use that bridge after being hacked twice, then he deserves to lose his money the third time.