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The theft of cryptocurrencies from a wallet address belonging to the famous cryptocurrency exchange Poloniex has caused a stir in the crypto world. Justin Sun, the owner of Poloniex, made the expected announcement following the estimated $50 million hack attack. Sun confirmed the hack and stated that all stolen funds will be covered.
<h2 style="text-align: justify" id="strong-justin-sun-confirms-the-attack-strong">Justin Sun Confirms the Attack</h2>
One of the oldest cryptocurrency exchanges, <a href="https://coin-turk.com/unlu-kripto-para-borsasi-hacklenmis-olabilir-cuzdan-adresi-bosaltildi" data-wpel-link="internal" rel="noopener noreferrer nofollow">Poloniex</a>, was hit by a hack attack that resulted in the theft of over $50 million worth of cryptocurrencies. Sun, confirming the attack, said that all stolen funds will be covered.
In a statement from his personal account after the hack, Sun said, “We are investigating the Poloniex hack incident. Poloniex’s <a href="https://newslinker.co/category/finance/" data-wpel-link="exclude" rel="noopener noreferrer nofollow">financial</a> situation is healthy, and all stolen funds will be covered. Additionally, we will cooperate with other cryptocurrency exchanges to recover the stolen funds.”
<img decoding="async" class="aligncenter wp-image-275232" src="https://coin-turk.com/wp-content/uploads/2023/11/Poloniex-Hack.png" alt="" width="607" height="159">
<h2 style="text-align: justify" id="strong-hacker-deposits-stolen-funds-into-tron-trx-strong">Hacker Deposits Stolen Funds into Tron (TRX)</h2>
The Poloniex hacker surprised everyone with a move following the attack. It was discovered that the hacker used a portion of the stolen funds to buy <a href="https://coin-turk.com/tron-icin-kehanet-niteliginde-hesaplama-bu-olursa-yatirimcilar-cok-mutlu-olacak" data-wpel-link="internal" rel="noopener noreferrer nofollow">Tron</a> (TRX), which resulted in a significant increase in the price of the altcoin within minutes. After the price increase of TRX, the hacker made another move and started selling the TRX acquired on the <a href="https://en.coin-turk.com/ubs-asset-management-launches-pilot-program-for-tokenized-money-market-fund-on-ethereum-blockchain/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Ethereum</a> network. According to data from the crypto data and price platform CoinMarketCap, TRX is currently trading at $0.1069, showing a 6.89% increase in the last 24 hours.
<img decoding="async" class="aligncenter wp-image-275233" src="https://coin-turk.com/wp-content/uploads/2023/11/Poloniex.png" alt="" width="750" height="621">
Meanwhile, on-chain analysts quickly identified the wallet address where the Poloniex hacker transferred the stolen cryptocurrencies. Currently, the hacker holds a significant amount of altcoins, including GLM worth $2.58 million, <a href="https://en.coin-turk.com/chainlink-link-breaks-out-of-range-whats-next/" data-wpel-link="internal" rel="noopener noreferrer nofollow">LINK</a> worth $2.4 million, OX worth $2.4 million, FLOKI worth $826.2 thousand, and MANA worth $732.3 thousand. Experts believe that the hacker will sell all these altcoins. Continue Reading: <a href="https://en.coin-turk.com/poloniex-hack-50-million-stolen-and-justin-suns-response/" data-wpel-link="internal" rel="noopener noreferrer nofollow">https://en.coin-turk.com/poloniex-hack-50-million-stolen-and-justin-suns-response/</a>

Poloniex Hack: $50 Million Stolen and Justin Sun’s Response

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