In a developing story, a hacker reportedly exploited an inadequate signing process to make off with more than $600 Million in various cryptocurrencies from cross-chain DeFi. Those included in the attack are Ethereum, Polygon, and BSC.
If the amount is accurate, the theft marks one of the largest cryptocurrency thefts in history.
What We Know
On Tuesday, Poly Network tweeted out confirming the attack on its network.platform.twitter.com/embed/Tweet.html?dnt=false&embedId=twitter-widget-0&features=eyJ0ZndfZXhwZXJpbWVudHNfY29va2llX2V4cGlyYXRpb24iOnsiYnVja2V0IjoxMjA5NjAwLCJ2ZXJzaW9uIjpudWxsfSwidGZ3X2hvcml6b25fdHdlZXRfZW1iZWRfOTU1NSI6eyJidWNrZXQiOiJodGUiLCJ2ZXJzaW9uIjpudWxsfSwidGZ3X3NwYWNlX2NhcmQiOnsiYnVja2V0Ijoib2ZmIiwidmVyc2lvbiI6bnVsbH19&frame=false&hideCard=false&hideThread=false&id=1425073987164381196&lang=en&origin=https%3A%2F%2Fbsctimes.com%2Fcross-chain-heist-poly-taken-to-the-tune-of-600-million%2F&sessionId=782c68ccbe25a56bdf05b336fe50d27a832c70fb&siteScreenName=BSCTimes&theme=dark&widgetsVersion=fcb1942%3A1632982954711&width=550px
Poly called on miners to blacklist tokens coming from the target wallets.
Tether froze around 33M USDT associated with the suspected wallets.
According to a competent analysis tweeted by Mudit Gupta, the impacted contract required validation of a single signature to execute the transfer and speculated that a single key could have been obtained through traditional means.platform.twitter.com/embed/Tweet.html?dnt=false&embedId=twitter-widget-1&features=eyJ0ZndfZXhwZXJpbWVudHNfY29va2llX2V4cGlyYXRpb24iOnsiYnVja2V0IjoxMjA5NjAwLCJ2ZXJzaW9uIjpudWxsfSwidGZ3X2hvcml6b25fdHdlZXRfZW1iZWRfOTU1NSI6eyJidWNrZXQiOiJodGUiLCJ2ZXJzaW9uIjpudWxsfSwidGZ3X3NwYWNlX2NhcmQiOnsiYnVja2V0Ijoib2ZmIiwidmVyc2lvbiI6bnVsbH19&frame=false&hideCard=false&hideThread=false&id=1425115173778427916&lang=en&origin=https%3A%2F%2Fbsctimes.com%2Fcross-chain-heist-poly-taken-to-the-tune-of-600-million%2F&sessionId=782c68ccbe25a56bdf05b336fe50d27a832c70fb&siteScreenName=BSCTimes&theme=dark&widgetsVersion=fcb1942%3A1632982954711&width=550px
The alleged use of a single key emphasizes that the fundamentals of security remain critical even in the age of more sophisticated DeFi hacks.
Stay with us as this story unfolds.
Source : bsctimes
BSC TIMES is a private news network. All posts posted by this user belong 100% to bsctimes.com. All rights are reserved to BSC TIMES for more information about BSC TIMES contact BSC TIMES here.
