---
title: "BREAKING NEWS: Poloniex Exchange Has Been Hacked, Move Your Crypto ASAP"
url: https://diffcoin.com/breaking-news-poloniex-exchange-has-been-hacked-move-your-crypto-asap/
description: "Reports reaching us at Bitcoinist are that the Justin Sun-led Poloniex crypto exchange has been hacked and the attackers are currently siphoning funds away"
published: 2023-11-10
updated: 2023-11-10
author: "Mila"
site: "Diffcoin"
---

# BREAKING NEWS: Poloniex Exchange Has Been Hacked, Move Your Crypto ASAP

Reports reaching us at Bitcoinist are that the Justin Sun-led Poloniex crypto exchange has been hacked and the attackers are currently siphoning funds away from the exchange at an alarming rate. So far, over $60 million in crypto is suspected to be already stolen spanning digital assets such as Tron (TRX), Pepe (PEPE), and Magic (MAGIC), among others.

## Poloniex Crypto Exchange Under Attack

The attack was first brought to light by Peckshield which noticed unusual transactions from wallets linked to Poloniex. The blockchain security firm then took to X (formerly Twitter) to point out the transactions to the crypto exchange.

> Hi [@Poloniex](https://twitter.com/Poloniex?ref_src=twsrc%5Etfw), you may want to take a look: [@justinsuntron](https://twitter.com/justinsuntron?ref_src=twsrc%5Etfw)
> 
> — PeckShield Inc. (@peckshield) [November 10, 2023](https://twitter.com/peckshield/status/1722931275764474329?ref_src=twsrc%5Etfw)

Poloniex did not acknowledge the attack but had updated the community that it had frozen its wallet for maintenance. However, it was a little too late as the attackers had already made off with a significant amount of assets.

> Breaking: Justin Sun’s Poloniex exchange (0xA9…22ba) was suspected of being stolen, and the loss of assets may exceed 60 million US dollars.
> 
> Poloniex stated that the exchange wallet has been disabled for maintenance and will be updated once the wallet is re-enabled.…
> 
> — Wu Blockchain (@WuBlockchain) [November 10, 2023](https://twitter.com/WuBlockchain/status/1722939372650303806?ref_src=twsrc%5Etfw)

Tron founder and owner of Poloniex exchange, Justin Sun has chimed in on the event and has assured the community that the crypto exchange “maintains a healthy financial position.” As for the Poloniex users who were affected by the attack, Sun has assured them that they will all be duly reimbursed for their losses.

> We are currently investigating the Poloniex hack incident. Poloniex maintains a healthy financial position and will fully reimburse the affected funds. Additionally, we are exploring opportunities for collaboration with other exchanges to facilitate the recovery of these funds.

![Crypto total market cap chart from Tradingview.com (Poloniex exchange)](https://www.tradingview.com/x/MNPb7Q6d/)

```
Total market cap continues to surge | Source: Crypto Total Market Cap on Tradingview.com
```

The tokens that have recorded the most losses so far include GLM in which the attackers stole over $2.58 million, Chainlink’s LINK with $2.4 million, and 0X with over $2.29 million stolen. The wallet had held around $67 million before the attack. But reports show that there is less than $4 million sitting in the wallet right now.

Crypto educator and YouTuber Wise Advice took to X to warn their over 130,000 followers to remove their funds from the exchange. “It seems like the hacker first drained all the assets and then used it to buy #TRX causing it to pump over 15%. If you have funds on it, withdraw it immediately.”

Details of the exploit are still unfolding and this report will be updated as more information is gathered. Be safe.

[Source link](https://bitcoinist.com/poloniex-crypto-exchange-hacked/)