On November 10, an unknown attacker attacked the Poloniex cryptocurrency exchange. According to preliminary data from Arkham Intelligence, cumulative losses exceeded $124.5 million in digital assets.
Assets of the hacker who attacked Poloniex. Data: Arkham Intelligence.
Around 14:00 (UTC+3), PeckShield analysts alerted the platform and its CEO Justin Sun about suspicious withdrawals from one of the company’s hot wallets.
Hi @Poloniexyou may want to take a look: @justinsuntron https://t.co/UobItZ9FpO
— PeckShield Inc. (@peckshield) November 10, 2023
Parallel Poloniex support account in X reported about disabling the address for maintenance.
40 minutes later, Sun confirmed the incident, announcing the start of an investigation. According to him, Poloniex is in a “healthy financial position” and will fully compensate for the lost funds at its own expense.
We are currently investigating the Poloniex hack incident. Poloniex maintains a healthy financial position and will fully reimburse the affected funds. Additionally, we are exploring opportunities for collaboration with other exchanges to facilitate the recovery of these funds.
— HE Justin Sun 孙宇晨 (@justinsuntron) November 10, 2023
The exchange will also seek help from other platforms to recover the stolen assets.
Sun offered the hacker 5% if all stolen funds were returned. He was given a week to consider the proposal, after which Poloniex will contact law enforcement agencies.
We are offering a 5% white hat bounty to the Poloniex hacker. Please return the funds to the following ETH/TRX/BTC wallets. We will give you 7 days to consider this offer before we engage law enforcement.
ETH Wallet: 0x176F3DAb24a159341c0509bB36B833E7fdd0a132 TRX:…— HE Justin Sun 孙宇晨 (@justinsuntron) November 10, 2023
Arkham representatives added that they announced a reward of 10,000 ARKM (~$4185) for help in identifying the attacker.
We’ve created and funded a bounty to help identify the person or organization behind today’s @Poloniex exploit.
Bounty Link: https://t.co/qMEA6KUsyu
Poloniex Exploiter on Arkham: https://t.co/AOJWEB0Y5X https://t.co/imBQrJa73G pic.twitter.com/CuUqVKncur
— Arkham (@ArkhamIntel) November 10, 2023
Amid the hack, the Tron blockchain’s native token (TRX) surged from $0.099 to $0.113. At the time of writing, the asset has corrected to $0.106.
Source: Cryptocurrency
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