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 Over $100 million in digital assets were transferred from a wallet belonging to crypto exchange Poloniex in what security firms believe to be a massive hack.
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<div class="cointelegraph">
 A crypto wallet belonging to the digital asset <a rel="noopener noreferrer nofollow" title="exchange" href="https://thebittimes.com/tag/exchange.html">exchange</a> Poloniex has experienced suspicious outflows, as seen on blockchain explorer Etherscan. Blockchain security firms believe that the company was breached, leading to as much as $100 million in crypto being drained by the attackers.&nbsp;
 On Nov. 10, millions of crypto assets were transferred from an account labeled Poloniex 4 on Etherscan. Initial estimates of the losses were around $60 million. However, it was later determined that, according to blockchain security firm CertiK, the incident was likely a "private key compromise." The security firm also noted that the funds have already been transferred to four externally owned accounts (EOAs), with some accounts being swapped into Ether (ETH).
 <blockquote class="twitter-tweet">
 .@Poloniex is suspected to have been hacked. The Poloniex address '0xA910' transferred all tokens to a new address '0x0A59' in 40 minutes, with a total value of about $60 million. '0x0A59' is currently transferring funds to more addresses and converting them to $ETH: pic.twitter.com/Kjdw5gIkxa— Scopescan ( . ) (@0xScopescan) November 10, 2023
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 In response to the suspicious outflows, the <a rel="noopener noreferrer nofollow" title="exchange" href="https://thebittimes.com/tag/exchange.html">exchange</a> disabled the wallet. However, the <a rel="noopener noreferrer nofollow" title="exchange" href="https://thebittimes.com/tag/exchange.html">exchange</a> has not yet posted an official statement regarding the hack. Cointelegraph also reached out to Poloniex but did not get an immediate response.&nbsp;
 <blockquote class="twitter-tweet">
 Our wallet has been disabled for maintenance. We will update this thread once the wallet has been re-enabled.— Poloniex Customer Support (@PoloSupport) November 10, 2023
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 While the <a rel="noopener noreferrer nofollow" title="exchange" href="https://thebittimes.com/tag/exchange.html">exchange</a> has not published an official statement yet, Justin Sun, who acquired the <a rel="noopener noreferrer nofollow" title="exchange" href="https://thebittimes.com/tag/exchange.html">exchange</a> in 2019, posted on X (formerly Twitter) that the team is already investigating the hacking incident. According to Sun, they will fully reimburse the users affected by the breach. The executive claimed that the <a rel="noopener noreferrer nofollow" title="exchange" href="https://thebittimes.com/tag/exchange.html">exchange</a> "maintains a healthy financial position" and is looking for collaborations with other <a rel="noopener noreferrer nofollow" title="exchange" href="https://thebittimes.com/tag/exchange.html">exchange</a>s to recover the lost funds.&nbsp;
 Related: Exploits, hacks and scams stole almost $1B in 2023: Report
 Sun also offered a 5% white hat <a rel="noopener noreferrer nofollow" title="bounty" href="https://thebittimes.com/tag/bounty.html">bounty</a> to the Poloniex hacker. The executive said that they will give the attacker seven days to return the funds before they start working with law enforcement authorities.&nbsp;
 <blockquote class="twitter-tweet">
 BREAKING &nbsp;@Poloniex assets are getting drained, and TRX is pumping hard. &nbsp; In the past hour alone, a Poloniex wallet that contained over $67M in assets is now left with less than $4M. &nbsp; Can someone explain this? pic.twitter.com/3GdiU6JgpI— Elja (@Eljaboom) November 10, 2023
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 Meanwhile, despite being hit with a negative incident, Tron (TRX), another of Sun’s crypto projects, has seen a 20% increase in price, according to digital asset information tracker CoinGecko. The cryptocurrency went from trading for $0.09 to $0.11 on the same day as the hack.&nbsp;
 Magazine: $3.4B of Bitcoin in a popcorn tin: The Silk Road hacker’s story
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Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/poloniex-exchange-suffers-100m-exploit-offers-5-bounty-tbt69841.html">https://thebittimes.com/poloniex-exchange-suffers-100m-exploit-offers-5-bounty-tbt69841.html</a>

Poloniex exchange suffers $100M exploit, offers 5% bounty

TheBitTimes

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