MetisDAO, the official body overseeing the Metis ecosystem, issued a warning regarding the validity of transactions involving METIS tokens following the recent Poly Network exploit.
A tweet on the official Metis account states that only METIS transactions made on BNBChain addresses prior to the Poly Network hack and the first sale of METIS exploited by the perpetrator will be considered valid.
To ensure transparency and fairness, the Metis team revealed that it took a snapshot of BNBChain addresses holding METIS tokens during the security breach on the Poly Network, especially during the first sale of the abused METIS. I made it The MetisDAO statement clearly states:
“METIS purchases made on BNBChain after the snapshot time will not be considered.”
Metis via Twitter
In light of this situation, MetisDAO has announced plans to roll out a new METIS contract soon. Therefore, we strongly advise the user not to manipulate his current METIS contract on BNBChain. Additionally, MetisDAO asked all liquidity providers to withdraw funds from Pancake Swap, the decentralized exchange where METIS tokens are traded.
The Poly Network hack, announced on Twitter on July 2nd, was believed to be caused by a vulnerability in the smart contract functionality of the decentralized financial platform’s cross-chain bridge protocol. After the attack, Poly Network temporarily suspended its services to address the security breach.
According to the Poly Network team’s latest update, the hack affected a total of 57 different cryptocurrencies across 10 different blockchains. Notable blockchains affected include Ethereum, BNB Chain, Polygon, Avalanche, Heko, OKX, Metis and others.
The exact amount of bitcoins stolen in the incident was not disclosed by Poly Network, but security firm PeckShield puts it at at least $5 million. Additionally, CertiK’s July 3 investigation revealed that around $10 million worth of cryptocurrency was spread across five of his addresses that were not part of the original Poly Network ecosystem. became.