Poly Network has a new exploit

The inter-network protocol was attacked by unknown persons back in early July. They have issued coins worth several tens of billions of dollars using different blockchains. The work of the bridge was stopped by the developers.

What the development team says

The creators of the bridge wrote on their Twitter account that they were temporarily suspending all Poly Network services as a result of the attack. They also added that they are actively cooperating with all the necessary parties and are conducting a thorough analysis of the assets affected by the attack.

Note that thanks to cross-chain bridges, users can conduct inter-network transactions. At the same time, some coins are blocked, while others are issued. It is assumed that the attackers could carry out manipulations with a smart contract that performs transactions.

Hackers managed to release about 10 billion BUSD for themselves, and 100 million BNB also succumbed to the issue. The amount amounted to about 2.45 billion dollars. There was also a 999 trillion SHIB issue. and millions of coins in other networks.

Previously, the developers estimated the damage in 57 different coins on 10 crypto networks.

PeckShield estimated that at a particular moment, the attackers had assets worth $42.8 billion to the crypto wallet.

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