PeckShield, a blockchain security company, has raised concerns about a series of cryptocurrency outflows from the wallet address labeled “Poloniex 4” controlled by the cryptocurrency exchange Poloniex, one of the oldest exchanges. This has led to speculation that the exchange may have fallen victim to a hack attack.
$50 Million Worth of Cryptocurrency Exits Wallet
PeckShield’s observation of consecutive cryptocurrency outflows from the wallet address labeled “Poloniex 4” under the control of cryptocurrency exchange Poloniex has caused panic. The uncontrolled cryptocurrency outflows have sparked speculation that the exchange may have suffered a hack attack.
According to The Block’s initial findings, approximately $18.5 million worth of cryptocurrency has exited the wallet address. With the continuous increase in cryptocurrency outflows from the wallet address, the total amount of cryptocurrency exiting the wallet has reached $50 million.
Deposits and Withdrawals Suspended
Furthermore, it has been revealed that Poloniex has suspended deposits and withdrawals due to maintenance. The cryptocurrency exchange has not yet provided any explanation regarding the significant cryptocurrency outflows from its wallet address.
