Inter-blockchain exchange platform PolyNetwork has undergone new attack hackers who released huge additional assets on multiple blockchains, including BNB, BUSD, SHIB and other tokens. This comes after hackers stole more than $600 million in cryptocurrencies from PolyNetwork in August, most of which was recovered.
By data cybersecurity company SlowMist, PolyNetwork hackers have successfully exchanged over $4.39 million worth of assets through various services such as Kucoin, FixedFloat, ChangeNOW, Tornado Cash. Some of the stolen tokens (including sUSD, RFuel, COOK, etc.) were exchanged for around $1.22 million worth of underlying assets through Uniswap and PancakeSwap decentralized exchanges.
The PolyNetwork team has not yet commented on the new hacker attack. Earlier, she said that she was working to strengthen her security and restore the normal operation of the platform. However, this incident shows that PolyNetwork is still vulnerable to cybercriminals who can exploit the complexity and heterogeneity of the inter-blockchain exchange for their own purposes.
PolyNetwork is a global inter-blockchain protocol for implementing blockchain interoperability and building a Web3.0 infrastructure. PolyNetwork has connected various more than 35 different blockchains, including popular ones such as Ethereum, Polygon, Arbitrum and BNB Chain, as well as others such as Aptos, Optimism, Neo, Metis and Gnosis Chain.
PolyNetwork allows you to transfer assets and NFTs between different blockchains, as well as make simple exchanges. PolyNetwork has high speed and low cost.
However, PolyNetwork has been hit by several hackers who have stolen millions of dollars in cryptocurrencies from the platform. The first attack occurred in August 2021 and was the largest in the history of DeFi. Hackers stole over $600 million in cryptocurrency from PolyNetwork on the Polygon, Ethereum and Binance Smart Chain blockchains. Most of the stolen funds were returned by the hackers after negotiations with PolyNetwork.
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