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Poloniex, a crypto exchange owned by Tron founder Justin Sun, has seen at least $60 million worth of crypto assets exit one of its wallets as the result of a “hack incident.”

The transfers were first flagged by blockchain security firm Peckshield; blockchain explorer Etherscan shows a series of transfers from the “Poloniex 4” wallet to the hacker’s wallet, including ETH, TRON, the stablecoins USDT and TUSD, and meme coins including PEPE, FLOKI, and SHIB.

A tweet from Poloniex’s customer support account stated its “wallet has been disabled for maintenance. We will update this thread once the wallet has been re-enabled.”

Following the incident, Sun tweeted that the exchange was “currently investigating the Poloniex hack incident,” adding that the exchange “maintains a healthy financial position” and would reimburse the affected funds. Sun stated that the exchange was collaborating with other exchanges to “facilitate the recovery” of the appropriated funds.

Speaking to Decrypt, security researcher Officer’s Notes suggested that the hack could be attributed to compromised private keys, malware, or social engineering.

Decrypt has reached out to Poloniex and will update this story should the exchange respond.

This is a developing story and will be updated with more information.

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