Poly Network Hack - $610 Million Stolen in 2021
Summary #
On August 10, 2021, Poly Network, a cross-chain decentralized finance (DeFi) platform, was hacked for over $610 million in digital assets. The attackers exploited a vulnerability in Poly Network’s code to transfer the funds to their own wallets.
Attackers #
Attackers’ identities have not been publicly disclosed. The hacker used the following addresses to transfer the funds:
- Ethereum:
- BSC:
- Polygon:
Losses #
The total amount of losses resulting from the Poly Network hack was over $610 million. The stolen funds consisted of 6,014 ETH, 273,900 Binance Coin (BNB), 2,651 Tether (USDT), and 1,000 Polygon (MATIC).
Timeline #
- August 10, 2021: Poly Network is hacked.
- August 10, 2021: Tether froze ~33M $USDt on 0xC8a65Fadf0e0dDAf421F28FEAb69Bf6E2E589963
- August 12, 2021: The attackers return most of the stolen funds
- August 23, 2021: Poly Network Commences Full Asset Restoration
Security Failure Causes #
- Vulnerabilities in Poly Network’s code: The attackers exploited a vulnerability in Poly Network’s code to transfer the funds to their own wallets.