Roughly $11,800,000 Worth of Bitcoin Stolen From DeFi Platform in Latest Crypto Hack

A cross-chain decentralized finance (DeFi) platform says it has lost millions of dollars worth of Bitcoin (BTC) to hackers.

pNetwork, which allows the teleporting of any digital asset to a different blockchain, says in a tweet that an attacker stole 277 Bitcoin wrapped as pBTC on the Binance Smart Chain (BSC).


The total value of the haul is approximately $11.84 million with Bitcoin trading at $42,735 at time of writing according to CoinGecko.

The cross-chain decentralized finance platform says it will offer a bounty to the attacker if they return the funds.

pNetwork also says that it is “working on a solution for users who were affected by the attack”.

Besides offering wrapped Bitcoin on the Binance Smart Chain, pNetwork’s pBTC is also available on the Ethereum (ETH), EOS, Telos (TLOS) and Polygon (MATIC) blockchain platforms.

Other wrapped digital assets on the pNetwork platform besides Bitcoin include Litecoin (LTC), Band Protocol (BAND) and stablecoins.

The total value locked on the pNetwork DeFi platform is slightly over $175 million.



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