Poloniex Exchange Suspected of $60 Million Hack: Massive Fund Transfer Noticed

The crypto world navigates troubled waters as Poloniex, a popular cryptocurrency exchange, is suspected of having fallen victim to a major hack with potential losses surpassing $60 million. The suspicion arose when tokens from the Poloniex address '0xA910' began being transferred to a new address '0x0A59' in a rapid operation lasting around 40 minutes. Nearly $60 million worth of assets were involved in this suspicious transfer. Currently, '0x0A59' is seen to be dispersing funds to an array of addresses and converting them into Ethereum (ETH). The assets being converted include 11 million USDT already exchanged for ETH at the '0x5c2a' address, and 4.98 million USDC at the '0x8e4a' address. The analysis unveils atypical movement of funds from a specific Poloniex hot wallet, Poloniex 4. The total outflow from this wallet alone is estimated to be around $31 million. Cryptocurrencies that include Dogelon Mars (ELON), Shiba Inu (SHIB), and Wrapped Bitcoin (WBTC) are reported as sold. In response to the ongoing events, Poloniex has disabled the exchange wallet for maintenance and announced that an update will follow once service is restored. The situation is ongoing and further updates will be provided as they become available. Detailed transaction activities can be reviewed at: Poloniex 4 Address: https://scopescan.ai/address/0xa910f92acdaf488fa6ef02174fb86208ad7722ba?network=eth