Polygon Discloses Patched Exploit That Put 9B MATIC at Risk

Australia News News

Polygon Discloses Patched Exploit That Put 9B MATIC at Risk
Australia Latest News,Australia Headlines
  • 📰 CoinDesk
  • ⏱ Reading Time:
  • 22 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 12%
  • Publisher: 63%

.0xPolygon spoke publicly about its handling of a major security flaw that put tens of billions of dollars at risk, and led to a hefty bounty payout for one whitehat hacker. $MATIC realDannyNelson reports

A hacker who helped Polygon avert a multibillion-dollar disaster in early December won a $2.2 million bug bounty, the blockchain network said Wednesday.

It wasn’t fast enough to protect all the genesis contract’s funds, according to Immunefi, the crypto security startup that managed Polygon’s bug bounty program. Separate hackers pilfered 801,601 MATIC tokens on Dec. 4. Polygon Foundation said it took the hit. Indeed, the abrupt hard fork had spillover effects for the network as validators unprepared for the shift were knocked offline, according to the Discord logs.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

CoinDesk /  🏆 291. in US

Australia Latest News, Australia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

MATIC, SHIBA and Other Altcoins Bleed as Bitcoin Retraces by 2.5%MATIC, SHIBA and Other Altcoins Bleed as Bitcoin Retraces by 2.5%ICYMI: Polygon's $MATIC is reversing after reaching its new ATH of $2.90 MATIC $BTC $SHIB
Read more »

'Critical' Polygon bug put $24 billion in tokens at risk until recent hard fork'Critical' Polygon bug put $24 billion in tokens at risk until recent hard forkPolygon was at risk of losing nearly all of its MATIC tokens until it upgraded its network earlier this month.
Read more »

Why Polygon (MATIC) Is A Good Cryptocurrency To Invest In | Hacker NoonWhy Polygon (MATIC) Is A Good Cryptocurrency To Invest In | Hacker NoonWhy, thanks to its infrastructure and design, Polygon(MATIC) is a great cryptocurrency to invest in and why even experienced traders should consider it.
Read more »

Two Major Ethereum Whales Buy 2 Million MATIC in Past 24 HoursTwo Major Ethereum Whales Buy 2 Million MATIC in Past 24 HoursTwo whales from the top 1,000 list, who bet on ETH as the largest asset in their portfolio, have purchased one million MATIC each, adding them to their crypto holdings
Read more »

After Polygon (MATIC) and Avalanche (AVAX), Aave (AAVE) v3 Might Go Live on StarkNetAfter Polygon (MATIC) and Avalanche (AVAX), Aave (AAVE) v3 Might Go Live on StarkNetLeading Layer 2 scaling solution StarkNet may be the next platform to host flagship DeFi protocol Aave
Read more »



Render Time: 2025-02-28 23:39:36