Poloniex stole more than 100 million dollars

Poloniex hacked, over $100 million worth of crypto stolen. Tron founder Justin Sun confirmed the hack, announcing a 5% White Hat reward for the hacker.

Cryptocurrency exchange Poloniex was reportedly robbed of more than $100 million after its hot wallets were hacked.

According to data from on-chain data platform Lookonchain, the hacker took the stolen assets into wallets on Ethereum and Tron in an attempt to cash in on the robbery.

Poloniex Hacker is selling stolen assets in #Ethereum for $ETH and stolen assets in #Tron Network for $TRX.

Goodbye! #poloniexhacker pic.twitter.com/G6ETnc3Q1M

— Lookonchain (@lookonchain) November 10, 2023

Tron founder confirms hack, gives 5% bonus

Tron founder Justin Sun confirmed the hack in a post on X and said the platform was offering a 5% white hat bonus to the hacker.

Sun also said that blockchain security platforms are helping to investigate the hacking incident. Rewards will last up to 7 days before law enforcement becomes involved. As for what will happen to the funds of the affected users, Sun explained that the exchange is in a healthy financial state and will pay all the victims.

“Poloniex maintains a healthy financial position and will repay the affected funds in full. In addition, we are looking for cooperation opportunities with other exchanges to facilitate the recovery of these funds,” he said.

We are currently investigating the Poloniex hack incident. Poloniex maintains a healthy financial position and will fully refund the affected funds. Additionally, we are exploring collaboration opportunities with other exchanges to facilitate recovery of these funds.

— HE Justin Sun Sun Yuchen (@justinsuntron) November 10, 2023

The attack on Poloniex comes less than two months after another Justin Sun crypto exchange, Huyo, was released from crypto assets.