Over $100 million in digital assets was illicitly transferred from Poloniex’s crypto wallet, prompting blockchain security firms to suspect a significant security breach.
On November 10, the suspicious outflows were detected on Etherscan, with initial estimates suggesting losses of $60 million, later revised to exceed $100 million. Blockchain security firm CertiK believes the incident resulted from a “private key compromise,” leading to funds being moved to external accounts. While Poloniex has not issued an official statement, owner Justin Sun assured an investigation and full reimbursement for affected users. Additionally, a 5% white-hat bounty was offered to the hacker, with collaboration efforts and a seven-day ultimatum before involving law enforcement.
Despite the incident, Tron, associated with Sun’s projects, experienced a 20% price increase on CoinGecko.