Polyhedra Network lost $760,000 worth of THENA tokens because someone got unauthorized access to their wallet on the BNB chain.
Polyhedra Network, a web3 interoperability infrastructure, faced a security issue with its wallet on the BNB chain. This led to hackers stealing about $760,000 worth of THENA tokens, equivalent to 1.4 million tokens. They then exchanged these tokens for around 1,299 BNB.
Polyhedra Network Addresses Security Breach
Polyhedra Network responded to the recent attack incident, stating that the team is actively working to identify the issue and enable cross-chain functionality from opBNB to BNB.
Following an investigation, it was concluded that the incident was not related to the security of Polyhedra zkBridge. The zkBridge has undergone audits by multiple auditing firms and is currently operating without any security issues concerning user assets. The company clarified that the incident resulted from human theft rather than a vulnerability in the contract, and legal action will be pursued against those involved.
https://twitter.com/PolyhedraZK/status/1767840134622589151?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1767840135952134314%7Ctwgr%5Eba425146ec47c66b34e3fa4fd71d89540468b82f%7Ctwcon%5Es2_&ref_url=https%3A%2F%2Fmpost.io%2Fpolyhedra-network-loses-760000-in-thena-tokens-due-to-key-leak-on-bnb-chain%2F
According to data from CoinMarketCap, THE is currently trading at $0.5676, reflecting a 7.55% increase over the past 24 hours (as of writing this article).
🚨ALERT🚨Today, @PolyhedraZK experienced a breach in wallet access on $BNB, and our AI-powered system detected it!
The attacker withdrew 1.4M $THE (@ThenaFi_), comprising $700K, then proceeded to swap all tokens for $BNB. The attacker was funded by @TornadoCash.
Attacker's… pic.twitter.com/3DT6xj3l4E
— 🚨 Cyvers Alerts 🚨 (@CyversAlerts) March 13, 2024
Polyhedra Network: Advancing Web3 Interoperability
Polyhedra Network is at the forefront of building and advancing Web3 interoperability through the utilization of zero-knowledge proof protocols. The network’s flagship protocol, zkBridge, is specifically designed to establish cross-chain infrastructures for interoperability between Layer 1 and Layer 2.
In addition to zkBridge, Polyhedra Network has developed other infrastructure solutions, including a zero-knowledge decentralized identity solution (zkDID) and a scalability solution called ParaPlonk. This solution utilizes a large-scale distributed proof generation network to accelerate zero-knowledge rollups.
Recently, Polyhedra Network concluded a snapshot for an upcoming airdrop and announced plans to list its token, ZK, on the OKX Jumpstart platform. This move will enable users to stake Bitcoin (BTC) and Ethereum (ETH) to acquire ZK tokens.
Despite a recent security incident, Polyhedra Network remains steadfast in its commitment to strengthening its security measures and advancing Web3 interoperability.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
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