Author: Mitchell Clark
Illustration by Alex Castro / The Verge
It’s estimated that over $600 million worth of cryptocurrency has been stolen as the result of a hack on a protocol called the Poly Network. And now, whoever stole it seems to be in the process of returning it, according to CNBC and Chainalysis. According to Bloomberg, it’s quite possibly one of the largest hacks in the decentralized finance, or DeFi, space.
The Poly Network is a protocol that lets people transfer cryptocurrencies between blockchains. And because of that role as a bridge, the stolen assets come in the form of hundreds of different types of tokens — from Ethereum to Binance’s BNB to Dogecoin.
The Poly Network cites the massive amount of money stolen in a message to the hacker, which it posted on Twitter. The message...
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Continue reading...
Illustration by Alex Castro / The Verge
It’s estimated that over $600 million worth of cryptocurrency has been stolen as the result of a hack on a protocol called the Poly Network. And now, whoever stole it seems to be in the process of returning it, according to CNBC and Chainalysis. According to Bloomberg, it’s quite possibly one of the largest hacks in the decentralized finance, or DeFi, space.
The Poly Network is a protocol that lets people transfer cryptocurrencies between blockchains. And because of that role as a bridge, the stolen assets come in the form of hundreds of different types of tokens — from Ethereum to Binance’s BNB to Dogecoin.
The Poly Network cites the massive amount of money stolen in a message to the hacker, which it posted on Twitter. The message...
Continue reading…
Continue reading...