Cryptocurrency exchange Poloniex has suffered a major hack, resulting in a loss of approximately $114 million. The hack was detected by blockchain security firms PeckShield and Cyvers, and Poloniex promptly disabled its wallet for maintenance. Tron founder Justin Sun confirmed the hack and stated that the exchange would reimburse affected users. In addition, Sun offered a white hat bounty to the hacker responsible for the exploit. The hack targeted multiple wallets across different blockchains, with a total of $114 million worth of tokens sent from Poloniex. The hacker’s methods remain unknown at this time. Poloniex, founded in 2013, is one of the oldest crypto exchanges and was acquired by Circle in 2018 before being spun off to various investors, including Justin Sun. Cryptocurrency exchanges have increasingly become targets for hackers, with recent hacks affecting exchanges such as HTX, Gdac, and Deribit. In response to the hack, Sun announced that Poloniex would offer a 5% white hat bounty to the hacker and had already frozen some assets associated with the hacker’s address. He assured users that losses were manageable and would be covered by Poloniex’s operating revenue.

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Information	Details
Geography	Global
Countries
Sentiment	neutral
Relevance Score	1
People	Justin Sun
Companies	Tron, Cyvers, PeckShield, Poloniex, Circle
Currencies	Ethereum, Global Digital Content, deribit, Huobi, TRON
Securities	None