Poloniex, a prominent cryptocurrency exchange, has unfortunately become the victim of a substantial hack, resulting in a loss of at least $49 million. The blockchain analysis firm PeckShield played a crucial role in uncovering this breach by identifying suspicious transactions at the center of the incident.
PeckShield issued an alert to notify both the cryptocurrency exchange Poloniex and Justin Sun, a well-known figure in the blockchain and crypto industry, about these questionable transactions. Through an examination of on-chain data, BeInCrypto found that the following tokens were moved to a new wallet:
- 4900 Ethereum
- 726,859.21 Sandbox
- 397,778.61 Polygon
- 102,084.79 Lido DAO
- 188,797 DAI
- 168,476.02 FRAX
- 1,158,260 CRO
- 10,027,719.43 HEX
- 1,058,674.96 CHZ
- 28,491.81 APE
“Cyvers Alerts, the security alert platform, has reported an estimated movement of around $60 million from Poloniex’s hot wallets. In response to this incident, Justin Sun, a primary stakeholder of the Poloniex cryptocurrency exchange, took to Twitter to address the situation:
“We are presently conducting a thorough investigation into the recent security breach at Poloniex. I want to assure our users that Poloniex remains in a strong financial position, and we are committed to fully reimbursing the affected funds. Furthermore, we are actively exploring potential collaborations with other cryptocurrency exchanges to facilitate the recovery of these funds.”
BeInCrypto has yet to discover more detailed information regarding the Poloniex hack.
In an unexpected turn of events, the native token of the TRON blockchain, TRX, experienced a sudden 14% surge in value following a recent hack. The TRON blockchain, founded by the well-known figure in the cryptocurrency world, Justin Sun, caught the community off guard with this surprising price movement.
The incident has led to a wave of suspicions among certain members of the crypto community. Concerns have been raised about the timing of the price pump and its connection to the hack. Some individuals are questioning whether there might be more to this situation than meets the eye.
It’s important to note that the crypto world is often rife with speculation and rumors, and such events can trigger a variety of reactions within the community. As more information becomes available and investigations progress, a clearer picture of the situation will likely emerge. In the meantime, the TRON community and the broader cryptocurrency market will be closely monitoring developments to understand the implications of this surprising price movement.
“Why did the hacker use those funds to pump TRX 🤔”
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