{"id":64132,"date":"2023-11-10T10:04:09","date_gmt":"2023-11-10T14:04:09","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=64132"},"modified":"2023-11-10T10:04:12","modified_gmt":"2023-11-10T14:04:12","slug":"poloniex-crypto-exchange-faces-100m-exploit","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/poloniex-crypto-exchange-faces-100m-exploit\/","title":{"rendered":"Poloniex Crypto Exchange Faces $100M Exploit"},"content":{"rendered":"\n

According to blockchain security firms, crypto exchange Poloniex suffered a $100 million exploit in digital assets due to a security breach<\/a>.<\/p>\n\n\n\n

\"Poloniex
Poloniex Crypto Exchange Faces $100M Exploit<\/figcaption><\/figure>\n\n\n\n

A Poloniex 4 account on Etherscan transferred millions of crypto assets on November 10. Initial loss estimates amounted to approximately $60 million. Later investigation revealed, nevertheless, that the assailants had stolen more than $100 million.<\/p>\n\n\n\n

CertiK, a firm specializing in blockchain security, indicates that the occurrence was most likely a “private key <\/a>compromise.” Additionally, the security firm reported that a portion of the funds had been exchanged for Ether (ETH) on four externally owned accounts (EOAs) to which the funds had been transmitted.<\/p>\n\n\n\n

\n

.@Poloniex\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a> is suspected to have been hacked.

The Poloniex address '0xA910' transferred all tokens to a new address '0x0A59' in 40 minutes, with a total value of about $60 million.

'0x0A59' is currently transferring funds to more addresses and converting them to $ETH<\/use><\/svg><\/span><\/a>: pic.twitter.com\/Kjdw5gIkxa<\/use><\/svg><\/span><\/a><\/p>— lmk.fun \ud83e\udd9c (Prev. Scopescan) (@lmkfun) November 10, 2023<\/use><\/svg><\/span><\/a><\/blockquote>

Due to the dubious disbursements, the exchange discontinued access to the wallet. Regarding the breach, the exchange has not issued an official statement as of yet.<\/p>\n\n\n\n

\n

Our wallet has been disabled for maintenance. We will update this thread once the wallet has been re-enabled.<\/p>— Poloniex Customer Support (@PoloSupport) November 10, 2023<\/use><\/svg><\/span><\/a><\/blockquote>

Although the exchange has not yet issued a formal statement, its 2019 acquirer, Justin Sun<\/use><\/svg><\/span><\/a>, confirmed on X (previously Twitter) that an investigation into the hacking incident has already begun. <\/p>\n\n\n\n

The users impacted by the breach will receive full reimbursement, per Sun. Purportedly, to recover the lost funds, the executive stated that the exchange “maintains a healthy financial position” and is pursuing partnerships with other exchanges.<\/p>\n\n\n\n

Sun also offered the Poloniex infiltrator a 5% white hat bounty. The executive stated they would cooperate with law enforcement authorities only after the assailant returned the funds within seven days.<\/p>\n\n\n\n

\n

BREAKING \ud83d\udea8\ud83d\udea8
\u00a0@Poloniex\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a> assets are getting drained, and TRX is pumping hard.
\u00a0
In the past hour alone, a Poloniex wallet that contained over $67M in assets is now left with less than $4M.
\u00a0
Can someone explain this? pic.twitter.com\/3GdiU6JgpI<\/use><\/svg><\/span><\/a><\/p>— Elja \ud83e\udd8d (@Eljaboom) November 10, 2023<\/use><\/svg><\/span><\/a><\/blockquote>

CoinGecko, an information tracker for digital assets<\/a>, reports that Tron (TRX), another of Sun's crypto initiatives, has experienced a 20% price increase despite an adverse incident. The value of the cryptocurrency increased from $0.09 to $0.11 on the day of the breach.<\/p>\n","protected":false},"excerpt":{"rendered":"

According to blockchain security firms, crypto exchange Poloniex suffered a $100 million exploit in digital assets due to a security breach. A Poloniex 4 account on Etherscan transferred millions of crypto assets on November 10. Initial loss estimates amounted to approximately $60 million. Later investigation revealed, nevertheless, that the assailants had stolen more than $100 […]<\/p>\n","protected":false},"author":12,"featured_media":7464,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[11476],"tags":[5580,6537,2156,2055],"class_list":["post-64132","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-hacks-and-scams","tag-crypto-exchange-2","tag-crypto-hack","tag-exploit","tag-poloniex"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2021\/08\/Poloniex-settles-unregistered-exchange-charges-with-the-SEC.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/64132","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/12"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=64132"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/64132\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/7464"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=64132"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=64132"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=64132"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}