A cryptocurrency transferring firm named Poly Network said that hackers resisted the firm's security and extracted more than $600 million in cryptocurrencies on Tuesday. The exact amount is still not disclosed by the company.
This is currently the biggest theft ever in the decentralised finance space that effected the market influencing many cryptocurrency transactions.
The company threatened legal actions, but also offered the hackers to work out with a solution which will benefit both the parties.
After the hack, many other major cryptocurrency companies beefed up their security. Tether, one of the cryptocurrency companies, frozed around $33 million in USDT tokens related to the hacker’s network specifications and wallet address.
The cryptocurrency attacks are increasingly gaining speed day by day. Theft around $432 million dollars are the figures of 2021 and are expected to rise considerably. Hackers are exploiting various bugs in seconds and they are untraceable.