The security of digital assets has been thrown in sharp focus after a huge theft of around $600 million took place on a decentralized network. The lack of protection for those affected is clear.
Around $600 million (€512 million) worth of cryptocurrencies were stolen by hackers this week on a decentralized financial (DeFi) network which specializes in allowing users to transfer digital assets tied from one blockchain to others.
PolyNetwork links some of the world’s top digital ledgers and blockchains but it announced on Tuesday that a hacker or hackers had exploited a vulnerability in its system which allowed them to access various digital ledgers and transfer funds away from the network to their own online wallets.
Update – Cryptocurrency heist hacker returns $260m in funds
