Poloniex Faces $60 Million Hack Justin Sun Vows Recovery

Poloniex Faces $60 Million Hack: Justin Sun Vows Recovery

News, Crime

In a startling revelation, Justin Sun’s cryptocurrency exchange, Poloniex, has fallen victim to a significant hack, allegedly resulting in a loss surpassing $60 million. The news, shared by crypto researcher and reporter Wu Blockchain, sent shockwaves through the crypto community.

According to Wu Blockchain’s tweet, Poloniex’s exchange (0xA9…22ba) is suspected to be the target of a substantial theft, with losses potentially exceeding $60 million. The gravity of the situation is underscored by the disabling of the exchange wallet for maintenance, as announced by Poloniex.

While an official figure is yet to be confirmed, data from DeBank suggests that more than $60 million in crypto assets has been redirected to the hacker’s address.

Poloniex Faces 60 Million Hack
Poloniex Faces 60 Million Hack

Taking to Twitter, Poloniex owner and Tron founder Justin Sun addressed the breach, assuring the community that the incident is under investigation. Sun emphasized that Poloniex maintains a robust financial position, ensuring full reimbursement for the affected funds. In a bid for recovery, he stated, “We are exploring opportunities for collaboration with other exchanges to facilitate the recovery of these funds.”

In a bold move, Justin Sun directly appealed to the hacker, urging the return of the stolen funds. To sweeten the deal, he offered a 5% white hat bounty, providing a deadline of 7 days for compliance.

As the crypto community braces for further developments, the analysis of the hack is still underway. Stay tuned for updates as more details emerge on this unfolding crypto crisis.

hack, Justin Sun, Poloniex