Justin Sun's Poloniex reportedly loses over $60M



Title: Justin Sun’s Poloniex Exchange Hit by $60 Million Hack

It seems like there is no end to the string of hacks plaguing cryptocurrency exchanges. The latest victim is Justin Sun’s crypto exchange, Poloniex, which has reportedly fallen prey to a theft, resulting in a loss of over $60 million.

The Hack and its Impact

According to reports, Poloniex has lost money in several cryptocurrencies, including Link, TRX, and TUSD. The exchange’s wallet has been disabled for maintenance, but no official mention of a hack has been made. Justin Sun, the founder of Tron and owner of Poloniex, has promised to fully reimburse the affected funds and stated that the exchange maintains a healthy financial position.

Poloniex becomes Sun’s second exchange to fall

This is not the first time Justin Sun has faced a hacking incident. Just a few months ago, his other crypto exchange, HTX (formerly known as Huobi), lost 5000 ETH (nearly $8 million) to a hack. Despite the loss, Sun assured customers that the exchange fully covered the losses and successfully resolved all related issues.

The Future

The story is still developing, and we can only hope that Poloniex and its users will recover from this significant setback. It is yet another reminder of the importance and urgency of enhancing security measures within the cryptocurrency industry.



### News source: ambcrypto.com

See also  Ethereum Tops the Charts for Highest Chain Count

By Team