Hacker rips $10 million from Poly Network

An unknown attacker has swapped over $10 million worth of ether following a security attack on Poly Network on Sunday.

The perpetrator exploited the attack to mint varying amounts of 57 tokens across blockchains. These included Ethereum, BNB Chain, Metis and Polygon.

Following the exploit, the attacker’s crypto wallet displayed an on-paper value exceeding $34 billion.

Security experts believe that the attack on Poly Network may have stemmed from a compromise or theft of private keys used in the platform’s main smart contract.

The experts alleged that the private keys for three out of the four admin wallets, which power the project’s main smart contract, were compromised.

Earlier in 2021, someone stole $611 million worth of assets from Poly Network, only to later return them in what was considered one of the largest crypto heists to date.

Following the incident, Poly Network announced a suspension of its services and said it was actively working with centralized exchanges and law enforcement agencies to identify the perpetrator and recover the funds.

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