Hackers have stolen more than $600 million in Ethereum and other cryptocurrencies. This is the biggest theft ever in the decentralized finance or DeFi space.

On Tuesday, hackers allegedly breached blockchain-based platform Poly Network and extracted more than $600 million in cryptocurrencies, the company announced on Twitter, marking the biggest hack ever in the decentralized finance space that’s heating up among investors.Poly Network is a platform that allows users to exchange crypto tokens.

It is believed that the most affected cryptocurrency in this theft is Ethereum. Hackers stole $273 million worth of Ethereum, $253 million worth of Binance Smart Chain and $85 worth of US Dollar Coin (USDC) tokens from the Polygon network.

Besides Ethereum, Tether worth about $33 million was also stolen, but it was frozen by the issuer as soon as the attack was discovered. This means that hackers cannot use these tokens. Poly tweeted that there was an attack on PolyNetwork. The tweet also shared the address of the attackers on which the stolen amount has been transferred.


The crypto attack has happened at a time when the cryptocurrency market is going through a lot of turmoil. Poly Network said preliminary investigations revealed that hackers took advantage of the vulnerability between contract calls. There have been many attacks this year but such a huge amount has not been stolen yet.
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