---
title: "Crypto Exchange Poloniex Hacked for $125 Million"
url: https://diffcoin.com/crypto-exchange-poloniex-hacked-for-125-million/
description: "Major security breach at Poloniex drains $125M from hot wallets; hackers steal ETH, TRX & BTC. Exchange offers 5% bounty for return of funds."
published: 2023-11-10
updated: 2023-11-10
author: "Mila"
site: "Diffcoin"
---

# Crypto Exchange Poloniex Hacked for $125 Million

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Crypto exchange Poloniex has suffered a major security breach, with hackers draining around [$125 million](https://twitter.com/peckshield/status/1722991018272759816) worth of funds from the platform’s hot wallets.

The hack, which blockchain analytics firm PeckShield first detected, saw the attackers steal an estimated $56 million in ETH, $48 million in TRON (TRX), and $18 million in Bitcoin.

A few minutes after PeckShield’s report, Poloniex posted a [tweet](https://twitter.com/PoloSupport/status/1722934043543752968) saying it had “disabled wallets for maintenance.” However, Tron founder Justin Sun, who acquired Poloniex in 2019, confirmed the breach in a tweet, saying that the exchange would “fully reimburse” affected users.

> 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.
> 
> — H.E. Justin Sun 孙宇晨 (@justinsuntron) [November 10, 2023](https://twitter.com/justinsuntron/status/1722942733680296246?ref_src=twsrc%5Etfw)

The exchange is also offering hackers a 5% ‘white hat’ bounty to return stolen funds.

Arkham data shows that the Poloniex hacker bought $20 million in TRX after the breach, driving the token’s price up by over 20%.

Hours after the hack, the attacker appears to have made a $2.5 million mistake, accidentally sending Golem tokens directly to the token’s smart contract and losing access to the funds.

This is the second security incident for a Sun-owned exchange in recent months. In September, crypto exchange HTX (previously Huobi) lost around $8 million in Ether to hackers. A few weeks later, the hacker returned the stolen funds and received a 250 ETH “whitehat bonus”.

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