Analyzing More Recent Notorious Crypto Hacks
Dubai, UAE, 12th July 2024, In the 15-year history of the cryptocurrency sector, many corrupt individuals have tried to find and exploit vulnerabilities in exchanges, bridges, and other platforms. The outcome is some of the most infamous hacks in the industry’s past. Let’s analyze a few more recent incidents and determine what valuable lessons the crypto community can learn from them.
Poly Network
The exploit of the Poly Network, a cross-chain interoperability protocol, took place in August 2021. It led to the theft of $610 million, marking one of the most daring cyber attacks in the cryptocurrency space.
After locating vulnerabilities in Poly Network’s smart contracts, an attacker found a way to access multiple wallets and successfully freed them from assets, transferring them to th...