Lookonchain, an analytics firm, mentioned that the hacker had found liquidity on other acquired tokens and exchanged 94 billion SHIB for 360 ETH, 15 million RFuel for 27 ether, and 495 million COOK for 16 ether. In regards to the newly minted BNB and BUSD on Metis, there is no sell liquidity available. We are aware of Polybridge’s ongoing situation, and are currently in contact with the PolyNetwork team to minimize the impact of the attack and further asses the situation. Shortly after the hack, Metis developers confirmed that there was no liquidity available for BUSD and BNB while the ill-acquired METIS tokens were locked on the PolyNetwork bridge hence all Metis Andromeda funds were safe.
Fortunately, low liquidity in several of the tokens stopped additional losses. In addition, PolyNetwork’s delay in responding cost the platform $5.5 million in stolen cryptocurrency because it took seven hours to react. Dedaub noted that, looking at the final event, they found that the private keys to the marked addresses had been compromised.ĭedaub explained the attack wasn’t particularly sophisticated since no logic flaws were used. Other chains underwent the same procedure, which allowed the token stockpile to grow.īlockchain security solutions provider Dedaub identified flaws in the protocol’s multi-signature system, noting that it had a basic “3 of 4” multi-signature setup over two years.
POLY BRIDGE 2 9 VERIFICATION
The hacker could issue tokens from the Ethereum pool of PolyNetwork to their address on other chains like Metis, BNB Chain, and Polygon since the smart contract accepted this and allowed them to avoid the verification process. 【1/3】- Poly Network July 2, 2023Īccording to DeFi security analyst Arhat, the exploit was caused by a vulnerability in a smart contract that gave the hacker the ability to create a malicious parameter with a forged validator signature and block header. We are actively engaging with relevant parties and diligently assessing the extent of the affected assets. However, the platform did not specify the amount stolen but asked its users to remain calm and trust their commitment to safeguarding their assets.ĭear users, we would like to inform you that Poly Network is temporarily suspending its services due to a recent attack. The team confirmed the exploit affected 57 crypto assets on ten blockchains. PolyNetwork later confirmed the DeFi exploit and paused its smart contracts EthCrossChainManager on several chains, BSC, Ethereum, and Metis. Immediately after the attack, the attacker’s wallet held more than $42 billion worth of crypto, but just on paper. The attacker minted 24 billion BUSD and BNB on the Metis blockchain, 999 trillion SHIB on Heco, and millions of other tokens on Polygon and Avalanche. Hi, you may want to take a look: - PeckShield Inc. The hack was first reported by Peckshield, an on-chain data analytics and security company, who asked the platform to investigate the issue. However, the realized amounts were reportedly much lower since most tokens were illiquid.
PolyNetwork recently suffered what was first reported as a $34b hack. Since the attack, PolyNetwork has temporarily suspended its services, actively engaging with relevant parties while assessing the damage done.
PolyNetwork, a cross-chain bridge platform, was hacked on July 2, where the hacker could issue billions of tokens out of thin air to gain profit.
0 kommentar(er)
