Around $600 million (€512 million) worth of cryptocurrencies were stolen by hackers this week on a decentralized financial (DeFi) network which specializes in allowing users to transfer digital assets tied from one blockchain to others.
PolyNetwork links some of the world’s top digital ledgers and blockchains but it announced on Tuesday that a hacker or hackers had exploited a vulnerability in its system which allowed them to access various digital ledgers and transfer funds away from the network to their own online wallets.
The heist is thought to be a record for digital assets. It is similar in scale to attacks which previously took place on the exchanges Mt Gox and Coincheck. The value of the stolen digital coins plunged by around a third as news of the crime spread and crypto traders began a sell-off.
In the aftermath of the digital raid, PolyNetwork posted a series of tweets announcing the news, calling on crypto networks to blacklist the…