Million

USDC

TRON

Poloniex Hack: Justin Sun’s Poloniex suffered a hack on November 10, with total funds stolen reaching over $126 million. Tron founder <a href="https://coingape.com/glossary/justin-sun/" target="_blank" rel="noopener noreferrer nofollow">Justin Sun</a> confirmed that the exchange was hacked after Crypto Twitter revealed a potential hacking incident at Poloniex. Justin Sun plans to reimburse affected users and offer a “white hat bounty” to the hacker.
<h2 id="poloniex-suffers-126-million-hack">Poloniex Suffers 126 Million Hack</h2>
<a href="https://coingape.com/justin-sun-poloniex-wallet-suffers-over-100-mln-asset-loss-in-hacking-attack/" target="_blank" rel="noopener noreferrer nofollow">CoinGape Media reported</a> that 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.
The crypto community blamed Poloniex and Justin Sun for trying to hide the hacking incident. After multiple users reported disabled wallets, Poloniex Customer Support said:
<blockquote>
 “Our wallet has been disabled for maintenance. We will update this thread once the wallet has been re-enabled.”
</blockquote>
Later, Justin Sun confirmed the Poloniex hack to the crypto community. Also, he announced a 5% white hat bounty to the hacker for returning hacked funds in 7 days. The exchange is considering to engage law enforcement if the hacker fails to coordinate.
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 Poloniex hacked.
 Don't know much details yet. We hope it will be resolved soon, and always ready to help if any of the funds flow our way.
 Please stay <a href="https://twitter.com/hashtag/SAFU?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#SAFU</a>. <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f64f.png" alt="🙏" class="wp-smiley" style="height: 1em; max-height: 1em;"> <a href="https://t.co/jIEAvXUpGn" rel="noopener noreferrer nofollow">https://t.co/jIEAvXUpGn</a>
 — CZ <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f536.png" alt="🔶" class="wp-smiley" style="height: 1em; max-height: 1em;"> Binance (@cz_binance) <a href="https://twitter.com/cz_binance/status/1722973564767183150?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">November 10, 2023</a>
</blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
Scopescan monitoring showed that the hacker used USDC to purchase TRX on Ethereum and USDT on the TRON chain. So far, he has purchased a total of 206 million TRX (approximately $22.8 million).&nbsp;This should be the reason for TRX’s surge.
<a href="https://coingape.com/price/tron" target="_blank" rel="noopener noreferrer nofollow">TRX price</a> jumped 8% in an hour, with the price currently trading at $0.10. The 24-hour low and high are $0.097 and $0.11, respectively.
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 <li><a title="Ripple Vs SEC: Will This US Supreme Court Precedent Ensures XRP Army’s Win?" href="https://coingape.com/ripple-vs-sec-us-supreme-court-precedent-xrp/" target="_blank" rel="noopener noreferrer nofollow">Ripple Vs SEC: Will This US Supreme Court Precedent Ensures XRP Army’s Win?</a></li>
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The post <a rel="noopener noreferrer nofollow" href="https://coingape.com/poloniex-hack-total-funds-stolen-reaches-over-126-million-btc-eth-shib-most-impacted/">Poloniex Hack: Total Funds Stolen Reaches Over $126 Million; BTC, ETH, SHIB Most Impacted</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://coingape.com">CoinGape</a>.

Poloniex Hack: Total Funds Stolen Reaches Over $126 Million; BTC, ETH, SHIB Most Impacted

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