After a multi-platform hack yesterday, a hacker returned more than $1 million in stolen cryptocurrency back to the network.
Yesterday afternoon, Poly Network reported that more than $600 million
from multiple network partners. The network released an initial statement on Twitter, including funds on Binance, Ethereum
‘s history. The network highlighted the consequences of the hack and the loss of thousands of network users. Sponsored Poly
Network concluded the statement by saying: “you should talk to us to work out a solution”.
Currently, the Poly network and its community are waiting to see what the hacker will do next. Poly has provided a number of wallet
keys that allow the hacker to easily return the stolen funds.
After returning the $1 million USDC, Poly Network sent
a message to the hacker confirming the transfer and adding, “you are moving in the right direction.”
Increase in Cyber Attacks
This year, cyber security is a major topic for the cryptocurrency community as more people enter this space due to the popularity of NFT
. A report in late 2020 calculated the total cost of security incidents in the cryptocurrency industry over a decade to be equal to $7.6 billion.
Concerns about these types of attacks are not diminishing. This year, cyberattacks targeting Bitcoin
have increased by nearly 200%. As cryptocurrency industry assets become more valuable and desirable, so does the need for enhanced security protocols across the industry.
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