Security News > 2021 > August > Hacker grabs $600m in cryptocash from blockchain company Poly Networks

Hacker grabs $600m in cryptocash from blockchain company Poly Networks
2021-08-11 18:57

Early suggestions blamed a cryptographic flaw known as transaction malleability, but sceptics argued that this sort of treachery, even if successful, would be visible in the Bitcoin transaction record, also known as the blockchain.

Online blockchain company Poly Networks, which describes itself as a company that was "Built to implement interoperability between multiple [block]chains in order to build the next generation internet infrastructure", has been hacked.

Some reports are blaming the attack on "Stolen private keys", which basically implies that the hacker got hold of the authentication codes needed to approve a whole raft of fraudulent activities.

Astonishingly, the hacker decided to send a note to Poly Networks.

Perhaps the hacker or hackers are now fearful of being caught, and will aim to make amends?

Perhaps the hackers are just playing with Poly Networks and have no intention of paying back more than they have already?


News URL

https://nakedsecurity.sophos.com/2021/08/11/hacker-grabs-600m-in-cryptocash-from-blockchain-company-poly-networks/

Related vendor

VENDOR LAST 12M #/PRODUCTS LOW MEDIUM HIGH CRITICAL TOTAL VULNS
Poly 8 0 6 4 0 10