Crypto Mufasa
Advertise
  • Crypto News
    • General News
    • Bitcoin News
    • Altcoin News
    • Ethereum News
  • NFT NEWS
  • Beginner Guides
  • Price Predictions
  • Crypto Prices
No Result
View All Result
  • Login
  • Register
  • Crypto News
    • General News
    • Bitcoin News
    • Altcoin News
    • Ethereum News
  • NFT NEWS
  • Beginner Guides
  • Price Predictions
  • Crypto Prices
No Result
View All Result
Crypto Mufasa
No Result
View All Result
Home Altcoin News

Poly Network Halts Services After A Major Hack Affecting 57 Assets

Hania by Hania
July 3, 2023
in Altcoin News
Reading Time: 2 mins read
A A
0
FBI Reveals: North Korean Hackers Lazarus Group Seeking To Sell $40M In Bitcoin
Share on FacebookShare on Twitter
ADVERTISEMENT

Poly Network suspends operations when hackers mint a significant number of various cryptocurrencies like BUSD, BNB, and SHIB, among others.

On numerous blockchains, the hackers minted a significant amount of different cryptocurrencies, including BUSD, BNB, and SHIB. Additionally, they were able to create 24 billion BUSD and BNB on Metis, 999 trillion SHIB on the Heco blockchain, as well as millions on other chains.

At one stage, the attacker’s wallet contained approximately $43 billion worth of cryptocurrency. However, it is challenging for them to sell these tokens and earn big profits due to limited market demand. The benefits from the hack are currently believed to be between $400,000 and $4 million. The statement was made on Sunday by the Poly Network, which noted:

“Dear users, We regret to notify you that our services will remain temporarily paused while we work to resolve this issue. We request the help of cybersecurity experts and knowledgeable people. We strongly urge you to actively get in touch with us if you have any knowledge that could help us in this effort.

57 Assets Across 10 Blockchains Are Affected by the Poly Network Hack

Poly Network Halts Services After A Major Hack Affecting 57 Assets

You May AlsoLike

Crypto.com And PayPal Set To Dominate PYUSD Trading Worldwide

Crypto.com And PayPal Set To Dominate PYUSD Trading Worldwide

September 29, 2023
Memeinator: The Crypto Hero On A Mission To Cleanse Meme Coins

Memeinator: The Crypto Hero On A Mission To Cleanse Meme Coins

September 28, 2023

As previously stated, 57 assets overall across 10 different blockchain networks have been compromised by the Poly Network attack. The Poly Network has previously experienced major hacks.

Back in August of 2021, hackers recognized bridges as potentially profitable targets. Additionally, in 2021, there was a big hack that cost Poly Network $600 million and resulted in funds being stolen from Ethereum, BNB Smart Chain, and Polygon.

In order to compensate consumers who suffered financial losses, Poly Network took steps after recovering $342 million of the stolen cryptocurrency.

Tags: crypto hackcrypto hackercyber attackshiba inu
Share76Tweet47
ADVERTISEMENT
Previous Post

Cardano (ADA) Price Prediction For 2023, 2024, 2025 AND 2030

Next Post

Cristiano Ronaldo Releases His 2nd NFT Collection On Binance

Hania

Hania

Hania is a 30-year-old blogger who used to be a teacher before entering the world of writing. She is originally from India and has been writing blogs on various topics for 2 years now. Hania is particularly interested in exploring the intersections of finance, technology, and cryptocurrency. Her experience as a teacher has given her unique insights into the ways in which digital media can be used to facilitate learning and engagement. Through her writing, Hania hopes to share her knowledge and learning of crypto industry with everyone.

Related Posts

Crypto.com And PayPal Set To Dominate PYUSD Trading Worldwide
Crypto Exchanges

Crypto.com And PayPal Set To Dominate PYUSD Trading Worldwide

September 29, 2023
Memeinator: The Crypto Hero On A Mission To Cleanse Meme Coins
Altcoin News

Memeinator: The Crypto Hero On A Mission To Cleanse Meme Coins

September 28, 2023
Binance Advises Euro Users To Convert To USDT As Paysafe Ends Support
Crypto Exchanges

Binance Advises Euro Users To Convert To USDT As Paysafe Ends Support

September 28, 2023
XRP’s Path To Success: 3 Reasons Ripple Could Explode In 2023
Altcoin News

XRP’s Path To Success: 3 Reasons Ripple Could Explode In 2023

September 27, 2023
Shiba Inu’s Price Turns Green After A Brief Bearish Phase
Altcoin News

Shiba Inu’s Price Turns Green After A Brief Bearish Phase

September 25, 2023
3 Cryptocurrencies To Avoid Trading In The Upcoming Week
Altcoin News

3 Cryptocurrencies To Avoid Trading In The Upcoming Week

September 22, 2023
Next Post
Cristiano Ronaldo Releases His 2nd NFT Collection On Binance

Cristiano Ronaldo Releases His 2nd NFT Collection On Binance

Discussion about this post

Live Prices

Stay Connected

You May Also Like

  • Terra Classic Price Prediction: What Is an Ideal LUNC Buy Zone?

    Terra Classic Price Prediction: What Is an Ideal LUNC Buy Zone?

    201 shares
    Share 80 Tweet 50
  • XRP’s Path To Success: 3 Reasons Ripple Could Explode In 2023

    199 shares
    Share 80 Tweet 50
  • Elon Musk’s Silence And Its Impact On DOGECOIN

    194 shares
    Share 78 Tweet 49
  • 3 Cryptocurrencies To Avoid Trading In The Upcoming Week

    194 shares
    Share 78 Tweet 49
  • Bitcoin (BTC) vs. Worldcoin (WLD) Comparative Study

    192 shares
    Share 77 Tweet 48
  • About Us
  • Contact Us
  • Work With Us
  • Privacy Policy
  • Terms Of Service

© 2022-2023 CryptoMufasa - All Rights Reserved!

No Result
View All Result
  • General News
  • Beginner Guides
  • Bitcoin News
  • Ethereum News
  • Altcoin News
  • NFT News
  • Price Predictions
  • Google News

© 2022-2023 CryptoMufasa - All Rights Reserved!

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms bellow to register

*By registering into our website, you agree to the Terms Of Services and Privacy Policy.
All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.