Security News > 2021 > August > Over $600 million reportedly stolen in cryptocurrency hack
Over $611 million has reportedly been stolen in one of the largest cryptocurrency hacks.
Decentralized cross-chain protocol and network, Poly Network announced today that it was attacked with cryptocurrency assets having successfully been transferred into the attackers' wallets.
Centralized stablecoin provider Tether has since blacklisted the USDT on Ethereum-worth $33 million of tokens, that was stolen in this attack.
The Block research team's Igor Igamberdiev believes the hack was caused due to a cryptography issue, which is a rare happening when it comes to cryptocurrency protocols.
According to SlowMist, the attacker transacted in Monero originally and exchanged the funds later for BNB, ETH, MATIC, and other tokens used to fund the attack.
Following the attack, BleepingComputer has come across transactions sent to the attacker with tips on how to launder the money and requests for free cryptocurrency.