Poloniex, a crypto exchange founded by Tron’s Justin Sun, has been hacked for over $100 million. Security firms PeckShield and Cyvers flagged the possible hack at around 10:55 UTC and the firm’s customer service arm took to X (formerly known as Twitter) to inform the community that their ‘wallet has been disabled for maintenance.’ Tron founder and Poloniex backer Justin Sun also took to X and shared the development, offering a 5% white hat bounty to the Poloniex hacker if the funds are returned. The hacker has reportedly targeted multiple wallets across various blockchains, sending $114 million worth of tokens from the exchange over 357 transactions and another wallet on the Tron (TRX) blockchain sent $42 million worth of assets to various wallets.
This is bad news for the crypto industry, as exchanges being hacked are becoming increasingly common. However, it is unclear how the hacker was able to breach the security at Poloniex.
You can read more about this topic here: Watcher Guru: Tron founder Justin Sun’s Poloniex Hacked For Over $100 million