- Poloniex was hacked and over $100 million worth of cryptocurrency was stolen.
- Tron founder Justin Sun confirmed the hacking, saying he would give the hacker a 5% white hat reward.
Cryptocurrency exchange Poloniex has reportedly been hacked worth over $100 million after its hot wallets were compromised.
According to data from the Onchain Data Platform: Look on chainHackers moved the stolen assets to wallets on Ethereum and Tron as they attempted to cash out their loot.
Poloniex Hacker Is Selling Stolen Assets #Ethereum for $ETH and stolen assets. #tron network $TRX.
Stay safe! #polonyxhackerhttps://t.co/RFi9PHpbyphttps://t.co/6BlwKUOHG5 pic.twitter.com/G6ETnc3Q1M
— Lookonchain (@lookonchain) November 10, 2023
Tron founder confirms hack and offers 5% bounty
Tron founder Justin Sun confirmed the hack in a post from X, adding that the platform was offering a 5% white hat bounty to hackers.
Sun also said the blockchain security platform helped investigate the hacking incident. The bounty will last up to seven days before law enforcement becomes involved. Regarding the affected user funds, Sun said the exchange was in a sound financial position and would compensate all victims.
“Poloniex maintains a sound financial position and will repay the affected funds in full. We are also exploring opportunities to collaborate with other exchanges to facilitate the recovery of these funds,” he said.
We are currently investigating the Poloniex hacking incident. Poloniex will maintain a sound financial position and repay any affected funds in full. Additionally, we are exploring opportunities to collaborate with other exchanges to facilitate the recovery of these funds.
— HE Justin Sun Sun Yuchen (@justinsuntron) November 10, 2023
The attack on Poloniex comes less than two months after cryptocurrency assets were leaked from Huobi, another of Justin Sun’s cryptocurrency exchanges.