Poloniex Hacked for $126 Million in Crypto Assets, Justin Sun Offers Bounty
Cryptocurrency exchange Poloniex was the victim of a massive security breach on November 10 that resulted in over $126 million worth of crypto assets being stolen from the companys hot wallets. According to on-chain data and confirmation from Poloniex owner Justin Sun, the hack targeted wallets across multiple blockchains including Ethereum, Tron, and Bitcoin. Pontos chave Poloniex, a cryptocurrency exchange owned by TRON founder Justin Sun, suffered a hack resulting in over $126 million worth of crypto assets being stolen. The hack targeted Poloniex hot wallets across multiple blockchains including Ethereum, Tron, and Bitcoin. Over $114 million was drained from an Ethereum wallet alone. Stablecoins like USDT and meme coins like SHIB were among the assets stolen, in addition to ETH and BTC. The hacker quickly moved the funds through various wallets, swapped some to USDC, and may have accidentally burned $2.5 million in Golem tokens. Justin Sun confirmed the hack on Twitter, stating Poloniex will fully reimburse affected users. He offered a 5% “white hat” bounty to the hacker. Poloniex initially claimed it disabled wallets for maintenance before admitting to the hack. The vector of the hack is still unknown but possibilities include compromised private keys, malware, or social engineering. Crypto exchange hacks remain common, though Poloniexs loss of