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A cryptocurrency hacking accident worth 600 million dollars (about KRW 700 billion) occurred. This is the largest cryptocurrency theft ever, drawing global investors' attention.
According to the U.S. economic media CNBC on the 11th, PolyNetwork, a cryptocurrency company, revealed the hacking on Twitter and urged hackers to return their assets.
PolyNetwork is a distributed financial platform that allows users to exchange and use different cryptocurrencies. Hackers attacked vulnerabilities in the system and stole thousands of cryptocurrencies such as Binance Chain, Ethereum and Polygon. The stolen cryptocurrency was transferred to three hacker addresses worth a total of 600 million dollars.
This case is beyond hacking cases such as "Coin Check" and "Mount Gox." Coincheck, a cryptocurrency exchange, suffered $530 million worth of hacking damage in January 2018. Mount Goks went bankrupt in February 2014 after 850,000 Bitcoin were stolen.
PolyNetwork released online addresses used by hackers, and asked cryptocurrency exchanges and blockchain miners to "blacklist cryptocurrency from hackers' addresses." He also suggested to hackers, "The money you stole is the property of hundreds of thousands of members of the cryptocurrency community," and "Let's find a solution through dialogue."
According to Cypertrace, a cryptocurrency security company, the damage from cryptocurrency hacking accidents by July this year was $361 million, nearly three times higher than last year. In addition, if the hacking accident of polynetwork is added, the cumulative damage as of August amounts to $1 billion.
PolyNetwork, a cryptocurrency platform company, suggested a conversation to hackers through Twitter.