Tron Founder Justin Sun’s Poloniex Exchange Hacked – Over $100 Million Gone

It has been just revealed the fact that the founder of Tron, Justin Sun, is now pretty upset following the latest hack that hit Poloniex. Check out the latest reports about this below.

Reports suggest that Poloniex, a cryptocurrency exchange founded by Tron’s Justin Sun, has fallen victim to a hacking incident worth over $100 million.

The hack was identified by crypto security firms PeckShield and Cyvers, who alerted the exchange at approximately 10:55 UTC.

Following this, the exchange’s customer service arm posted on X (formerly known as Twitter), stating that the wallet has been disabled for maintenance.

The platform mentioned that it would keep the community informed as soon as the wallet is back online. However, no updates have been received from the exchange since then.

We are offering a 5% white hat bounty to the Poloniex hacker. Please return the funds to the following ETH/TRX/BTC wallets. We will give you 7 days to consider this offer before we engage law enforcement.
ETH Wallet: 0x176F3DAb24a159341c0509bB36B833E7fdd0a132 TRX:…

— H.E. Justin Sun 孙宇晨 (@justinsuntron) November 10, 2023

The customer service team of the firm announced on X (previously known as Twitter) that their wallet is currently disabled for maintenance.

The platform assured the community that they would be informed once the wallet is back online. However, there has been no update from the exchange regarding the wallet’s status since then.

It is unclear how a vulnerability was discovered and exploited. We may receive updates on the methods used by the hacker to gain access to the hot wallet in the future, they say.

However, it is common to see cryptocurrency exchanges being hacked.

For instance, earlier this year, HTX was hacked for $8 million worth of ETH. Similarly, in April, the South Korean exchange Gdac lost $13 million to an attack. Additionally, last November, Deribit was hacked for $28 million.