HONG KONG/SINGAPORE/LONDON (Reuters) - A cryptocurrency platform has lost an estimated US$600 million in digital tokens after one of the sector's biggest ever hacking attacks, according to details of the heist which emerged on Wednesday. Poly Network, a decentralised finance platform (DeFi), announced the hack on Twitter and posted details of digital wallets to which it said the money was transferred, urging people to blacklist tokens from those addresses. The heist appears to be one of the biggest ever in cryptocurrency markets, and compares with the US$530 million in cryptocurrency stolen from Tokyo-based bitcoin exchange Coincheck in 2018. Gox," said Bobby Ong, co-founder of crypto analytics website CoinGecko, although he noted the fallout had not yet hurt major crypto prices. STOLEN TOKENSPoly tweeted it planned to take legal action and urged the hackers to return the assets, a move analysts said underscored how hard it is to recover stolen tokens.


Source:   The Star
August 11, 2021 09:56 UTC