Poloniex, a crypto exchange owned by Tron founder Justin Sun, suffered a massive hack on November 10, losing over $117 million in various cryptocurrencies. Sun confirmed the incident on Twitter and assured that Poloniex has enough funds to reimburse the affected users. He also said he is looking for ways to collaborate with other exchanges to recover the stolen assets.
According to Arkham Intelligence, the hacker managed to steal 107 different tokens, each worth more than $10,000. The largest amounts were in Ethereum (ETH), Tron (TRX), Bitcoin (BTC), and Wrapped BTC (WBTC), totaling over $95 million. Other notable tokens that were taken include OX, TUSD, WETH, FLOKI, DYDX, AKITA, PEPE, BAT, TON, AAVE, JST, LOOM, UNI, TONCOIN, INJ, MATIC, SNX, SAND, GNO, SAITAMA, MKR, LDO, DAI, FRAX, SNT, GRT, GALA, POLY, RIO, KISHU, BAND, JESUS, MVL, GROK, FTT, STPT, RNDR, CHR, YFI, CAW, IMX, POLS, MDT, BID, DXT, KNC, BAD, CLV, SUSHI, and CRO.
The hacker’s address has been identified and tracked by Arkham Intelligence, but it is unclear how the breach happened and whether the hacker has moved or sold any of the funds. The crypto community is urged to be vigilant and report any suspicious activity on the exchanges. The hack could have a negative impact on the prices and sentiment of the affected tokens, as well as the reputation of Poloniex and Sun.
Etherscan data shows that over $120 million of crypto has been hacked from the wallet. The stolen funds include:
- 1,000 ETH ($4.5 million)
- 2,000 BTC ($110 million)
- 500 USDT ($500,000)
Sun said in a tweet that he is ‘currently investigating the Poloniex hack incident’ and that he will ‘fully reimburse the affected funds’. He also added that ‘Poloniex maintains a healthy financial position’. Tron founder, who acquired Poloniex in 2019, confirmed the incident on X and offered a 5% reward to the hacker if they return the funds within a week. He also assured that Poloniex has enough reserves to reimburse the affected users and that the exchange is working with other platforms to recover the assets.