HackAlerts
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Attackers issued Billions worth of several Tokens on Sunday morning after exploiting a smart contract function in Cross Chain protocol #PolyNetwork Bridge tool.
Bridges allows users to swap Tokens between different Blockchains using a smart contracts by locking value on one network, and releasing it on another.
PolyNetwork attackers were likely able to manipulate the way the bridge works and trick it into issuing Tokens on one network which, in reality did not exist.
Always #DYOR & Trade with #StopLoss
#BinanceTournament
Attackers issued Billions worth of several Tokens on Sunday morning after exploiting a smart contract function in Cross Chain protocol #PolyNetwork Bridge tool.
Bridges allows users to swap Tokens between different Blockchains using a smart contracts by locking value on one network, and releasing it on another.
PolyNetwork attackers were likely able to manipulate the way the bridge works and trick it into issuing Tokens on one network which, in reality did not exist.
Always #DYOR & Trade with #StopLoss
#BinanceTournament
Further details are coming to light following a July 2 attack on Cross-Chain Bridge platform Poly Network, which has resulted in a hacker being able to issue Billions of Tokens out of thin air for profit.
In a July 2 Twitter post, Poly Network Confirmed it became the latest DeFi exploit victim after attackers managed to manipulate a smart contract function on the cross - chain Bridge protocol adding it will be temporarily suspending services.
In the most recent updates, the team revealed the exploit affected 57 crypto assets on blockchain - including Ethereum, $BNB Chain, Polygon ($MATIC ) Avalanche, Heco, OKx, Metis and others.
#HackAlerts #DYOR #PolyNetwork #NFA
#BinanceTournament
In a July 2 Twitter post, Poly Network Confirmed it became the latest DeFi exploit victim after attackers managed to manipulate a smart contract function on the cross - chain Bridge protocol adding it will be temporarily suspending services.
In the most recent updates, the team revealed the exploit affected 57 crypto assets on blockchain - including Ethereum, $BNB Chain, Polygon ($MATIC ) Avalanche, Heco, OKx, Metis and others.
#HackAlerts #DYOR #PolyNetwork #NFA
#BinanceTournament
LIVEAskToRahulSingh
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#HackAlerts
Attackers issued Billions worth of several Tokens on Sunday morning after exploiting a smart contract function in Cross Chain protocol #PolyNetwork Bridge tool.
Bridges allows users to swap Tokens between different Blockchains using a smart contracts by locking value on one network, and releasing it on another.
PolyNetwork attackers were likely able to manipulate the way the bridge works and trick it into issuing Tokens on one network which, in reality did not exist.
Always #DYOR & Trade with #StopLoss
#BinanceTournament
Attackers issued Billions worth of several Tokens on Sunday morning after exploiting a smart contract function in Cross Chain protocol #PolyNetwork Bridge tool.
Bridges allows users to swap Tokens between different Blockchains using a smart contracts by locking value on one network, and releasing it on another.
PolyNetwork attackers were likely able to manipulate the way the bridge works and trick it into issuing Tokens on one network which, in reality did not exist.
Always #DYOR & Trade with #StopLoss
#BinanceTournament