Security News > 2021 > August > Crypto Hack Earned Crooks $600 Million
Attackers reportedly stole $600 million from the cryptocurrency platform Poly Network, in what experts say is one of the largest crypto heists to date.
Poly Network, a decentralized finance platform based in China, publicly acknowledged that an attacker "Exploited a vulnerability" that allowed them to assign themselves the ownership of money processed through the platform.
Attackers snatched up a reported $611 million in digital tokens.
In a follow-up tweet posted at 7:47 a.m. ET, Poly Network said some assets were returned by the attackers.
Based on recent publicly disclosed losses due to attacks, Poly Network's losses are the largest to date to be associated with cyrptocurrency firms.
In 2013, Mt. Gox, another Tokyo-based exchange, collapsed after a massive distributed-denial-of-service attack triggered the loss of an estimated $500 million dollars in bitcoin.