ToplineHackers allegedly breached blockchain-based platform Poly Network and extracted more than $600 million in cryptocurrencies on Tuesday, the company announced on Twitter, marking the biggest hack ever in the decentralized finance space that’s heating up among investors. The combined value of the stolen tokens, as of Tuesday morning, totaled roughly $604 million, making it even bigger than the $460 million hack on cryptocurrency exchange Mt. Poly, which was founded by the $3.3 billion Chinese cryptocurrency project NEO, did not immediately respond to Forbes’ request for comment. Crucial Quote“We call on miners of affected blockchain and crypto exchanges to blacklist tokens coming from the above addresses,” Poly Network tweeted Tuesday. Key BackgroundLess than a week before the Poly hack, SEC Chairman Gary Gensler said booming decentralized finance platforms, also known as DeFi, deserve more government scrutiny.

Source: Forbes August 10, 2021 15:10 UTC