Polkadot is believed to have been hacked, with miners creating 1 billion DOT Token .

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According to analysis from onchain expert Lookonchain, Polkadot appears to have recently fallen victim to a hack where a hacker created 1 billion DOT Token and sold all of Token in a single transaction, earning 108.2 ETH (approximately $237,000).

Wu Blockchain, citing CertiK, stated that the incident stemmed from a vulnerability in the Hyperbridge gateway. This vulnerability allowed attackers to forge messages and interfere with the governance of a Polkadot Token contract on Ethereum.

Thanks to this access, the hacker created a large number of invalid Token and quickly converted them to ETH in a single step. This incident further raises new concerns about security in the cryptocurrency market.

This is an ongoing event, and the latest information will be updated as more details become available.

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Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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