Hackers attacked pNetwork and stole $12.5 million worth of BTC, and Erdoğan declared war on digital currencies

Hackers attacked pNetwork project and stole $12.5 million worth of cryptocurrency

Unknown persons hacked pNetwork cross-chain platform. The team of the crypto project wrote about the loss of 277 bitcoins, which equals about $12.5 million.

«We’re sorry to inform the community that an attacker was able to leverage a bug in our codebase and attack pBTC on BSC, stealing 277 BTC (most of its collateral). The other bridges were not affected. All other funds in the pNetwork are safe,” wrote the pNetwork team.

The project team also announced that vulnerabilities in the platform code have already been identified and work is underway to eliminate them. “The bridges will be restarted after they are secured,” probably within hours, the company said.

The pNetwork team published a message for hackers asking them to return the stolen assets for a reward of $1.5 million. However, it seems that the platform was hacked by “black” hackers who do not intend to return the stolen cryptocurrency.

Erdoğan declared war on digital currencies

Turkish President Recep Tayyip Erdoğan believes the country is at war with digital currencies. At the same time, Turkey supports blockchain technology and intends to become the center of its development, but the enthusiasm of local authorities does not extend to crypto assets.

“We have a separate war, a separate fight against them. We would never lend support to [cryptocurrencies]. Because we will move forward with our own currency that has its own identity.” the Turkish President said.

In April of this year, the Central Bank of Turkey introduced an official ban on cryptocurrency payments. This means that local businesses have lost the ability to conduct transactions involving digital assets. Among the reasons for such a radical decision were high volatility and the threat of crime.