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Blockchain Technology: Cryptocurrency scam

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Hackers steal $600m in latest and highest cryptocurrency theft ever

Blockchain technology site Poly Network said hackers had stolen  $600m in major cryptocurrency theft after exploiting a vulnerability in its system and taken thousands of digital tokens such as Ether.

Poly Network said a preliminary investigation found a hacker succeed in the cryptocurrency scam having exploited‘’ vulnerability between contract calls”

Further details revealed that the $600m of the hacked cryptocurrency comprises about $267m of Ether currency, $252m of Binance coins, and roughly $85 million in USDC tokens.

Poly Network, describing the amount of money hacked is one of the biggest in defi [decentralized finance] history. it as however urged the online thieves to establish communication with them and return the hacked assets in a letter posted on Twitter.

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The theft, which appears to be one the largest cryptocurrency hack ever, is on par with huge recent breaches at exchanges such as Coincheck and Mt Gox. The money stolen was [sic] from tens of thousands of crypto community members

The Blockchain technology site, Poly Network, hinted that this major ‘cyber economic scam is criminal and against the Law in any country and will be pursued.

It urged various exchanges to block deposits of the coins after millions of dollars in tokens was transferred to separate cryptocurrency wallets.

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