Crypto lender Polter Finance halts operations after $12M hack
Written by Ohris M. Greyoon, Blockchain & Crypto Expert
Source: Coinmarketcap
Updated: Nov 18 2024Polter Finance Hack Incident: Polter Finance, a decentralized lending platform, paused operations after a hack drained $12 million from its total value locked (TVL), linked to a faulty oracle price-related flash loan attack on its new market. The founder reported the incident to Singapore authorities and attempted to negotiate with the hacker, who did not respond.
Community Skepticism and Response: Following the hack, community members expressed doubts about the incident possibly involving insider activity. In response to skepticism, Polter Finance announced a partnership with SEAL-ISAC to aid in tracking down the attacker.
About the author
Ohris M. Greyoon
Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.
