{"id":357046,"date":"2023-11-10T17:20:02","date_gmt":"2023-11-10T11:50:02","guid":{"rendered":"https:\/\/ambcrypto.com\/?p=357046"},"modified":"2023-11-10T18:03:56","modified_gmt":"2023-11-10T12:33:56","slug":"justin-suns-poloniex-reportedly-loses-over-60m","status":"publish","type":"post","link":"https:\/\/ambcrypto.com\/justin-suns-poloniex-reportedly-loses-over-60m\/","title":{"rendered":"Justin Sun&#8217;s Poloniex reportedly loses over $60M"},"content":{"rendered":"<ul>\n<li><em>Poloniex becomes the second crypto exchange owned by Justin Sun to lose millions to a hack<\/em><\/li>\n<li><em>Initial findings showed the loss exceeds the $60 million mark, but the latest report claims it to be over $100 million<\/em><\/li>\n<\/ul>\n<p><strong>Update:<\/strong><\/p>\n<p>The hack has now resulted in a loss exceeding $100 million, according to Arkham Intelligence. Additionally, the hacker has stolen the most amount of cryptocurrencies from the Ethereum chain, valued at $56.91 million. The biggest loss on this chain is ETH, with the hacker currently owning over $35 million worth of coins, followed by 0x and Link, with its stolen coins worth over $2 million.<\/p>\n<figure id=\"attachment_357075\" aria-describedby=\"caption-attachment-357075\" style=\"width: 707px\" class=\"wp-caption aligncenter\"><img decoding=\"async\" class=\"wp-image-357075 size-full\" src=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/11\/Screenshot-2023-11-10-at-12.24.41-PM.png\" alt=\"Source: Arkham Intelligence\" width=\"707\" height=\"250\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/11\/Screenshot-2023-11-10-at-12.24.41-PM.png 707w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/11\/Screenshot-2023-11-10-at-12.24.41-PM-300x106.png 300w\" sizes=\"(max-width: 707px) 100vw, 707px\" \/><figcaption id=\"caption-attachment-357075\" class=\"wp-caption-text\">Source: Arkham Intelligence<\/figcaption><\/figure>\n<hr \/>\n<p>Another day, another hack. This time around, Justin Sun&#8217;s crypto exchange &#8211; Poloniex &#8211; has reportedly fallen victim to a theft. This has resulted in the platform incurring a loss of over $60 million, <a href=\"https:\/\/twitter.com\/wublockchain\/status\/1722939372650303806?s=12&amp;t=gCvd0s60gsNVGKKBNIsnFw\" target=\"_blank\" rel=\"noopener\">according<\/a> to Colin Wu. This incident was also confirmed by Peckshied, a blockchain security and data analytics company.<\/p>\n<p>So far, the crypto exchange has lost money in several cryptocurrencies, including Link, TRX, and TUSD. An updated post by Wu <a href=\"https:\/\/twitter.com\/WuBlockchain\/status\/1722947459851460676\" target=\"_blank\" rel=\"noopener\">states<\/a>,<\/p>\n<div>\n<div>\n<blockquote>\n<div id=\"id__qdqvdmpc9d\" dir=\"auto\" lang=\"en\" data-testid=\"tweetText\">&#8220;Before being frozen, the hacker&#8217;s Tron chain address transferred large assets such as $21.73 million in USDT, $14.05 million in BTC, $3.65 million in USDD, and $1.78 million in USDC to other addresses, totaling more than US$42.83 million. Only $6.54 million is currently frozen.&#8221;<\/div>\n<\/blockquote>\n<\/div>\n<\/div>\n<p>According to the exchange&#8217;s latest X (Twitter) <a href=\"https:\/\/twitter.com\/PoloSupport\/status\/1722934043543752968\" target=\"_blank\" rel=\"noopener\">post<\/a>, Poloniex&#8217;s wallet &#8220;has been disabled for maintenance.&#8221; The platform, however, did not mention the root cause for the suspension and there has been no official mention of a hack.<\/p>\n<p>The founder of Tron and owner of Poloniex &#8211; Justin Sun has spoken about the incident on his official X account stating that the team was investigating the hack incident. The Tron founder has also <a href=\"https:\/\/twitter.com\/justinsuntron\/status\/1722942733680296246\" target=\"_blank\" rel=\"noopener\">promised<\/a> to &#8220;fully reimburse the affected funds&#8221;, claiming that the exchange &#8220;maintains a healthy financial position.&#8221; Sun also stated that the team was &#8220;exploring opportunities for collaboration with other exchanges&#8221; to recover the stolen funds&#8221;<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">We are offering a 5% white hat bounty to the Poloniex hacker. Please return the funds to the following ETH\/TRX\/BTC wallets. We will give you 7 days to consider this offer before we engage law enforcement.<br \/>ETH Wallet: 0x176F3DAb24a159341c0509bB36B833E7fdd0a132 TRX:\u2026<\/p>\n<p>&mdash; H.E. Justin Sun \ud83d\udc68\u200d\ud83d\ude80 \ud83c\udf1e (@justinsuntron) <a href=\"https:\/\/twitter.com\/justinsuntron\/status\/1722951876986204259?ref_src=twsrc%5Etfw\">November 10, 2023<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<h4><strong>Poloniex becomes Sun&#8217;s second exchange to fall<\/strong><\/h4>\n<p>Interestingly, reports of a hack surfaced months after Sun&#8217;s other crypto exchange &#8211; HTX also fell <a href=\"http:\/\/ambcrypto.com\/crypto-exchange-htx-drained-of-millions-in-weekend-hack\/\" target=\"_blank\" rel=\"noopener\">victim to a hack<\/a>. The exchange, which was previously known as Huobi, lost 5000 ETH (nearly $8 million) over an attack that took place in September 2023.<\/p>\n<p>However, despite the loss, Sun <a href=\"https:\/\/twitter.com\/justinsuntron\/status\/1706311251024822748\" target=\"_blank\" rel=\"noopener\">assured<\/a> customers that the exchange &#8220;fully covered the losses incurred from the attack and has successfully resolved all related issues.&#8221; The founder even claimed that the $8 million that was stolen equated to the exchange&#8217;s two week&#8217;s revenue.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Poloniex becomes the second crypto exchange owned by Justin Sun to lose millions to a hack Initial findings showed the loss exceeds the $60 million mark, but the latest report claims it to be over $100 million Update: The hack has now resulted in a loss exceeding $100 million, according to Arkham Intelligence. Additionally, the<a href=\"https:\/\/ambcrypto.com\/justin-suns-poloniex-reportedly-loses-over-60m\/\">Continue reading <span class=\"sr-only\">&#8220;Justin Sun&#8217;s Poloniex reportedly loses over $60M&#8221;<\/span><\/a><\/p>\n","protected":false},"author":25,"featured_media":357053,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"om_disable_all_campaigns":false,"footnotes":""},"categories":[31,66,3,4,20],"tags":[37],"class_list":["post-357046","post","type-post","status-publish","format-standard","has-post-thumbnail","category-altcoins-news","category-new-news","category-news","category-social","category-trading-view","tag-justin-sun"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.4) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Justin Sun&#039;s Poloniex reportedly loses over $60M - AMBCrypto<\/title>\n<meta name=\"description\" content=\"Justin Sun&#039;s crypto exchange - Poloniex - has reportedly fallen victim to a theft. 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