Poloniex is set to resume deposit and withdrawal services shortly, less than a week after a significant security breach. The latest update indicates that the majority of the restoration work has been completed, and the cryptocurrency exchange is currently operating smoothly.
In its efforts to enhance security, Poloniex has engaged with a leading security auditing firm, with the final stages of the security audit and verification process currently underway. Once the audit is completed, Poloniex plans to swiftly reinstate deposit and withdrawal services.
The ongoing evaluation process is anticipated to take several more days, as outlined in the official blog post.
On November 10th, Poloniex fell victim to a hack orchestrated by unknown attackers who specifically targeted the platform’s hot wallets, resulting in the loss of $125 million across 175 different cryptocurrencies.
Acknowledging the security breach, Tron founder Justin Sun, who acquired Poloniex in 2019, issued a public statement and announced a 5% white hat bounty, urging the attacker to return the stolen funds. Sun also revealed that the attackers utilized a sophisticated strategy, targeting various wallets across multiple blockchains.
As per blockchain analytics company Nansen, Poloniex’s wallet currently holds only 175 tokens, equivalent to a mere $10,000.
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