Poloniex Exchange Suffers ~$60 million Hack

Justin Sun owned crypto exchange Poloniex is reportedly hacked for over $60 million.
Poloniex Exchange Suffers ~$60 million Hack

Justin Sun’s Poloniex Exchange is reportedly hacked for over $60 million in a recent attack.

Crypto researcher and reporter, Wu Blockchain shared that Poloniex is supposedly hacked and its loss may exceed over $60 million.

While there is no official source for the exact figure, it appears that more than $60 million of crypto assets has been sent to the hacker’s address, to data from DeBank. 

The exchange owner and Tron Founder Justin Sun shared a post confirming the hack and said that the team is investigating the incident. He clarified that Poloniex has a healthy financial position to cover the affected damage on funds. 

“We are exploring opportunities for collaboration with other exchanges to facilitate the recovery of these funds,” he said.

Justin has asked the hacker to return the stolen funds in exchange for 5% white hat bounty with a deadline of 7 days.

It appears that various wallets across multiple blockchains have been targeted by the hacker. Arkham data shows that an Ethereum wallet, which is now tagged as “Poloniex hacker,” sent a total of $114 million worth of tokens from Poloniex in a 357 transactions. 

The analysis for hack is still going on. We will update information as further details are disclosed.

Also Read: Australian Exchange CoinSpot Loses $2M In Hot Wallet Hack

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