This morning, the official account for Metis tweeted that the only METIS transactions that would be acknowledged were those placed on BNBChain addresses before the Poly Network breach and the initial sale of exploited METIS by the culprit.
The Metis team had stated that a snapshot was taken of BNBChain addresses that held METIS tokens when PolyNetwork’s security was breached, as well as during the initial sale of exploited METIS by the exploiters. This snapshot was taken when the exploiters were selling the exploited METIS. The MetisDAO announced.
After the snapshot, BNBChain addresses that purchase METIS will not be acknowledged. In addition, the DAO highly suggested that users avoid participating with the METIS contract on BNBChain since a replacement contract will be implemented very soon. In addition, they suggested that all liquidity providers remove their money from the Pancake Swap platform.
Poly network’s breach
Poly Network revealed the breach in a tweet on July 2 and said it resulted from an attack against decentralized finance. As stated in the tweet, the attackers have successfully exploited a smart contract function on the cross-chain bridge protocol. Consequently, Poly Network has declared that it would temporarily suspend its service.
The Poly Network team said the vulnerability affected 57 distinct cryptocurrencies across 10 blockchains in the most recent update. These cryptocurrencies include Ethereum, BNB Chain, Polygon, Avalanche, Heco, OKX, and Metis.
Although Poly Network did not specify the exact amount taken in the incident, PeckShield stated that the attacker had moved away at least $5 million worth of bitcoin. Poly Network has not confirmed this information. In addition, a study that CertiK published on July 3 indicated that the assault led to around $10 million worth of cryptocurrency being gathered over five addresses controlled by third parties.
