Poloniex falls victim to $114M hot wallet hack: Insights from on-chain data

Hello crypto enthusiasts and accidental viewers, Durgesh here, bringing you the high stakes drama in the crypto world. So, what happened at Poloniex?

A mysterious character, let’s call him Crypto Phantom, waltzed into Poloniex’s digital treasure chest and danced with $114 million in goodies. This is what I call the digital heist of the century! 💎🔐

Our friends at PeckShield and Cyvers were the first to detect something fishy at 10:55 UTC. The alarms were sounding, but Poloniex decided to hit the snooze button on maintenance just 12 minutes later. Smooth movements, Poloniex, smooth movements.

Justin Sun, the hero investor, confirmed the feat. But fear not, dear crypto comrades! He’s not just sitting there twiddling his thumbs. Oh no, he plays Robin Hood and promises to reimburse the victims. Which guy! 🦸‍♂️💰

But wait, there’s more! Our mysterious hacker, during a shopping trip on different blockchains, won $42 million on Tron. You’re talking about diversifying your portfolio, right? 💼💰

Now, Poloniex is no stranger to the cryptocurrency podium. Founded in 2013, it strutted its stuff, got cozy with Circle in 2018 and even got a makeover in 2019. But this hack? It’s like your fashion show is crashed by unexpected guests. Not cool! 👠💔

Amidst all this chaos, the Poloniex hacker decided to become a crypto influencer, increasing the price of Tron by 25%. Move over, Elon Musk, we have a new player in town! 🚀🌙

But fear not, dear readers! Justin Sun, the crypto superhero, said: “We got this! » Poloniex flexes its financial muscles, ready to cover losses. They even put in place a 5% bonus for the hacker, with a seven-day deadline. Talk about turning the tables! 🕵️‍♂️💼

So there you have it, crypto fans! Another day, another heist in the wild west of digital currencies. Stay tuned for more crypto adventures and remember to keep your wallets close and your passwords closer! Until next time, it’s Durgesh who ends with a virtual high five! 🖐️✨