Hacker Stole $11,800,000 Worth of Bitcoin From DeFi Platform

Hacker Stole $11,800,000 Worth of Bitcoin From DeFi Platform

The cross-chain decentralized finance (DFI) platform says it has lost millions of dollars worth of bitcoins (BTCs) to hackers.

pnetwork, which allows any digital asset to be teleported to a different blockchain, states in a tweet that an attacker used a 277-bitcoin as a PBTC on the Binary Smart Chain (BSE). Wrapped and stolen

"We are sorry to tell the community that an attacker took advantage of a bug in our code base and attacked PBTC on BSC and stole 277 BTC (mostly collateral). Other bridges were not affected. All other funds in the P network are safe.

At the time of writing, Bitcoin is worth about .8 11.84 million with approximately $ 11.84 million, according to CoinGecko.

The cross-chain decentralized finance platform says it will reward the attacker if he returns the funds.

"To the black hat hacker. Although this is a long shot if the funds are returned we are giving a clear reward of 500 1,500,000. Unfortunately finding vulnerabilities is part of the game, but we all want to." As the ecosystem continues to grow, the return of funds is a step in that direction.

The P-Network also says it is "working on a solution for users who were affected by the attack."

Hacker Stole $11,800,000 Worth of Bitcoin From DeFi Platform


In addition to offering bitcoins wrapped around Binance Smart Chain, P-Network also offers PBTC Ethereum (ETH), EOS, Telos (TLOS), and Polygon (Matic) blockchain platforms. 

In addition to bitcoins, other digital assets wrapped around the P-Network platform include litecoin (LTC), band protocols (bands), and stable coins.

The total value locked on the P-Network Definition platform is a little over $ 175 million.

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