Poloniex, an internationally renowned cryptocurrency exchange, suffered a hack this Friday, November 10. Cybersecurity specialists say the losses exceed USD 125 million.

Cybersecurity and analytics firm Arkham reports that the address of the hacker who stole funds from Poloniex has a balance of $125 at the time of writing. Of that amount, there is $41 million in ether (ETH), $31 million in TRX and $19 million in bitcoin (BTC).

Around 4 p.m. (UTC) on November 10, Justin Sun said that "the Poloniex team successfully identified and froze a portion of the funds associated with the hacker's addresses."

"In addition, the team restored Poloniex's systems, preserved relevant evidence, and in the coming days, we will work diligently to gradually resume deposits and withdrawals on Poloniex, ensuring 100% security. We apologize for any inconvenience this may have caused," the owner of the affected platform added.

By logging the on-chain activity of the attacker's address, it emerged that the attacker sold 726,900 units of the SAND token on decentralized exchange Uniswap in exchange for 142,635 ETH.

Through a post on the social network X (formerly Twitter), Justin Sun, owner of Poloniex since 2019, reported that they are investigating the incident. In addition, he said that the company's financial situation is good and that it "will fully reimburse the affected funds".

In a subsequent message, Justin Sun offered the hacker a 5% reward of what was stolen in exchange for returning the funds. If the attacker does not agree to do so within a maximum period of seven days, Poloniex will turn to the authorities to report the theft, the businessman said.