Polkadot (DOT), one of the oldest altcoins in the cryptocurrency market, is back in the spotlight today following a hacking attack.
While this attack didn’t directly target the Polkadot network, it prompted action from South Korea’s three largest cryptocurrency exchanges.
At this point, the country’s three largest exchanges, Upbit, Bithumb, and Coinone, announced that they have added Polkadot to their delisting watchlist. Earlier in the morning, South Korean exchanges had announced that they were suspending DOT deposit and withdrawal transactions.
The exchanges explained that this decision was made after confirming a security incident, such as an unverified or unaddressed cyberattack, affecting the asset’s wallet or distributed ledger.
What happened?
As you may recall, the hacker targeted Hyperbridge, a platform that acts as a bridge between cryptocurrencies. The attackers illegally minted DOT tokens on Hyperbridge and the Ethereum network, and after locking them into the system as if they were real, they sold these DOT tokens.
However, analysts note that the losses experienced in DOT are relatively small due to the limited and low liquidity of the token.
According to the data, DOT continues to trade at $1.15, down approximately 6%.
*This is not investment advice.