Poly Network

2020-08-18

Poly Network launches as a cross-chain interoperability protocol, founded by Neo, Ontology, and Switcheo.

2021-08-10

Poly Network suffers the largest DeFi hack in history: approximately $611M stolen across Ethereum (~$273M), BNB Chain (~$253M), and Polygon (~$85M) via an access control exploit in EthCrossChainManager.

2021-08-11

The attacker begins returning stolen funds and claims via on-chain messages that the theft was conducted 'for fun' to expose vulnerabilities. Poly Network begins addressing the attacker as 'Mr. White Hat.'

2021-08-13

Approximately $340M returned. Poly Network offers attacker a $500,000 bug bounty and the role of 'chief security advisor.' Security community criticizes the white hat framing.

2021-08-15

Tether Ltd. confirms it froze $33.4M in USDT linked to the attacker's wallet immediately after the hack.

2021-08-25

All remaining unfrozen funds returned to Poly Network. The attacker declines the $500,000 bounty.

2023-07-02

Poly Network suffers a second exploit: attacker mints tens of billions in notional token value across 57 assets on 10 blockchains. Realized losses estimated at ~$10M. Root cause: alleged compromise of 3 of 4 multisig keeper private keys.

2023-07-03

Poly Network suspends all services and advises users to withdraw assets. Dedaub publishes postmortem attributing the attack to compromised private keys, not a smart contract bug.

2024-09-11

Poly Network announces complete termination of all services, effective September 30, 2024, citing 'changing market conditions.'

2024-09-30

Poly Network permanently shuts down all services, including Poly Bridge.