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Over $100 million stolen from Tron founder Justin Sun’s Poloniex crypto exchange

Over $100 million stolen from Tron founder Justin Sun's Poloniex crypto exchange

The cryptocurrency market faces a new multi-millionaire criminal event on November 10. On this Friday, more than $117 million was reportedly stolen from Poloniex, a centralized exchange owned by Justin Sun, founder of Tron (TRX).

Justin Sun commented on X at 11:42 am UTC about the hack incident:

“We are currently investigating the Poloniex hack incident. Poloniex maintains a healthy financial position and will fully reimburse the affected funds. Additionally, we are exploring opportunities for collaboration with other exchanges to facilitate the recovery of these funds.”

— Justin Sun (@justinsuntron) 

So far, 107 cryptocurrencies have been stolen for amounts superior to $10,000 each, out of the $117.20 million identified by Arkham Intelligence, at the time of publication.

Ponoliex hacker address.
Ponoliex hacker address. Source: Arkham Intelligence

What cryptocurrencies were stolen by the Poloniex Hacker?

Notably, the highest stolen amounts by the “Poloniex Hacker” were:

  • Ethereum (ETH): 16,147 ETH ($33.62 million);
  • Tron (TRX): 288.44 million TRX ($30.61 million);
  • Bitcoin (BTC): 501.62 BTC ($18.55 million);
  • Wrapped BTC (WBTC): 364.29 WBTC ($13.28 million).

However, Justin Sun’s exchange also lost meaningful amounts of OX, TUSD, WETH, FLOKI, DYDX, AKITA, PEPE, BAT, TON. AAVE, JST, LOOM, UNI, TONCOIN, INJ, MATIC, SNX, SAND, GNO, SAITAMA, MKR, LDO, DAI, FRAX, SNT, GRT, GALA, POLY, RIO, KISHU, BAND, JESUS, MVL, GROK, FTT, STPT, RNDR, CHR, YFI, CAW, IMX, POLS, MDT, BID, DXT, KNC, BAD, CLV, SUSHI and CRO.

Essentially, each of the above-mentioned cryptocurrencies had more than $100,000 worth of tokens stolen. The list of the total assets in the hand of the Poloniex Hacker is even higher and could further increase as investigations are still happening.

It is expected that other exchanges unite in an attempt to prevent these funds from being dumped. Nevertheless, the effects of such a massive hacking event are yet to be discovered. Particularly, this event could trigger a bearish trend reversal for the affected digital assets.

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