Here’s How Much Ripple (XRP) Was Stolen in the Poloniex Attack

TL;DR

• Poloniex Hack: Cryptocurrency change Poloniex was hacked on November 10, dropping $125 million in numerous cryptocurrencies from its sizzling wallets, together with 3.1 million XRP tokens.
• Widespread Token Influence: Over 175 completely different tokens had been affected, with main losses together with $11M in USDT, $10.4M in ETH, and $6M in ELON, indicating a extremely subtle and in depth assault.
• Response and Containment: Proprietor Justin Solar confirmed the breach and provided a 5% bounty for fund restoration.

Poloniex, one of many main cryptocurrency exchanges, fell sufferer to a classy hack on November 10. The attackers efficiently focused the platform’s sizzling wallets, making off with a staggering $125 million in numerous cryptocurrencies, a major blow to the change and its customers.

The hackers’ brazen heist included the theft of roughly 3.1 million XRP tokens, roughly $2.07 million. XRP Forensics confirmed the information, because it occurred concurrently the incident on different chains, together with Ethereum, Tron, and Bitcoin.

A Poloniex sizzling pockets was emptied for 3.1 million XRP about half-hour in the past. This occurred concurrently the incident on different chains, together with ETH, BTC and Tron. We now have flagged the accounts concerned and are following the cash.https://t.co/r9FsO8euLe

— XRP Forensics (XRPLF) (@xrpforensics) November 10, 2023

This makes XRP one of many tokens with probably the most important outflows within the hack —others embody GLM ($2.5M), OX ($3.1M), SHIB ($4.7M), USDC ($5M), and different essential cryptocurrencies akin to ETH.

The most important token outflows ($), however not all had been:

$11M USDT
$10.4M ETH
$6M ELON
$5M USDC
$4.7M SHIB
$3.1M OX
$2.5M GLM

That is presently the ultimate web page for Poloniex outflows pic.twitter.com/SCNVpBQKxw

— Nansen 🧭 (@nansen_ai) November 10, 2023

Losses Inside ‘Manageable Limits’

As CryptoPotato reported, the hack compromised greater than 175 completely different tokens, every with particular person valuations exceeding $10,000. This broad scope signifies a well-planned assault that sought to maximise the affect on the change’s digital belongings.

Poloniex’s proprietor, Justin Solar, confirmed the breach in a public assertion, prompting customers to stay calm and providing a 5% white hat bounty for the attacker in change for the return of the stolen funds.

Solar revealed that the hackers particularly focused numerous wallets throughout a number of blockchains, demonstrating a excessive stage of sophistication of their method. Blockchain analytics firm Nansen confirmed solely 175 tokens left in Polonie’s pockets, amounting to simply $10k.