Justin Sun’s Poloniex, a globally recognized digital asset exchange, suffered a huge loss of over $100 million in assets in a hacking attack. 
On November 10, PeckShield Alert, a blockchain security and data analytics company, took to X and shared the details of the cyber attack, which left Poloniex with just over $4 million in assets. 
<h2 id="suspicion-transactions-on-the-poloniex-platform">Suspicion Transactions on the Poloniex Platform</h2> 
As per the initial analysis by PeckShield Alert, the centralized crypto exchange Poloniex is said to have suffered a security hack on one of its wallets, which is tagged as Poloniex 4 on Etherscan. 
Notably, the suspicious outflows from the new wallet have left the Poloniex platform and affected a large sum of its funds.&nbsp; The suggested amount is said to be over $100 million in crypto assets, during the time of writing. 
According to <a rel="nofollow" href="https://platform.arkhamintelligence.com/explorer/entity/893f9614-ccae-4b56-bf6e-6b072b297b5c" target="_blank">reports,</a> Tron chain address transferred large assets such as USDT, BTC, USDD, USDC, ETH, FLOKI,&nbsp; TUSD, and many other assets, worth over $100 million in 357 transactions. 
Initially, Poloniex is yet to officially confirm this loss, instead shared a tweet saying,&nbsp; their wallets have been disabled for some maintenance purpose and they will soon update the users once they enable the wallets again. 
However, later in an update, <a href="https://coingape.com/glossary/justin-sun/" target="_blank" rel="noopener">Justin Sun,</a> the founder of Poloniex finally spoke about the theft and said that the team is currently investigating the Poloniex hack incident.&nbsp; He further added that Poloniex maintains a healthy financial position and assures to fully reimburse the affected funds. 
Lastly, Sun said,&nbsp; they are making efforts and looking for opportunities to collaborate with other exchanges to facilitate the recovery of these funds. 
Also Read: <a href="https://coingape.com/binance-to-cease-russian-ruble-rub-deposits-following-russia-exit-plans/" target="_blank" rel="noopener">Binance To Cease Russian Ruble (RUB) Deposits Following Russia Exit Plans</a> 
<h2 id="rising-phishing-and-crypto-theft-raises-concern">Rising Phishing and Crypto Theft Raises Concern</h2> 
The latest rise in the incidents of <a href="https://coingape.com/blog/how-to-spot-a-crypto-scam/" target="_blank" rel="noopener">crypto scams</a>, phishing, and asset theft is raising alarming concerns amongst the crypto community. 
After the $100 million assets theft of Poloniex was reported, many users shared their concerns on the X platform. 
Users expressed themselves with comments like “hackers are shorting crypto”, and “Security is so poor these days.” 
Also Read: <a href="https://coingape.com/global-coalition-of-50-nations-vows-rapid-adoption-of-crypto-reporting-framework/" target="_blank" rel="noopener">Global Coalition Of 50 Nations Vows Rapid Adoption Of Crypto Reporting Framework</a> 
The post <a rel="nofollow" href="https://coingape.com/justin-sun-poloniex-wallet-suffers-over-100-mln-asset-loss-in-hacking-attack/">Breaking: Justin Sun’s Poloniex Exchange Suffers Over $100 Mln Asset Loss In Hacking&nbsp;Attack</a> appeared first on <a rel="nofollow" href="https://coingape.com">CoinGape</a>.

Breaking: Justin Sun’s Poloniex Exchange Suffers Over $100 Mln Asset Loss In Hacking Attack

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