Cryptocurrency exchange giant Poloniex has fallen
victim to a massive hot wallet hack, resulting in an estimated loss of a
staggering $114 million. The exploit, flagged by blockchain security firms
PeckShield and Cyvers, has prompted Poloniex to disable its wallet for
maintenance.
At approximately 10:55 UTC on May 29-31, 2024,
blockchain security firms PeckShield and Cyvers raised red flags about a
suspected hack targeting Poloniex’s hot wallets, according to a report by
Coindesk. The exchange promptly responded by announcing the disabling of its
wallets for maintenance 12 minutes later.
Confirmation of the hack came from Poloniex’s
investor and Tron’s Founder, Justin Sun. In a tweet, Sun assured affected users
that Poloniex, despite the substantial loss, maintains a healthy financial
position.
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.
— H.E. Justin Sun 孙宇晨 (@justinsuntron) November 10, 2023
He pledged full reimbursement for the affected
funds. Besides that, Sun has offered a “white hat bounty” to the
hacker responsible, with a seven-day deadline before involving law enforcement.
The hack became evident after on-chain data revealed
that various…
