Users Warned as MATIC to POL Migration Looms

Author: Elena R

Elena R

Author

Elena is an expert in technical analysis and risk management in cryptocurrency market. She has 10+year experience in writing – accordingly she is avid journalists with a passion towards researching new insights coming into crypto erena.

• 

Aug 24, 2024 17:34

Just a few weeks prior to the MATIC to POL token migration, Polygon’s official Discord channel was hacked, which posed the security issue. Promoting phishing links, the attackers focused on the deployment of fake POL airdrop announcements that enticed users to migrate. Surprisingly, the breach did not affect the stability of MATIC in the market, trading at above $0. undefined Polygon Labs’ Chief Information Security Officer Mudit Gupta and co-founder Sandeep Nailwal urged its users to refrain from interacting with any links on the channel to prevent further compromises. The breach took place even with Two-Factor Authentication in place and the scope of the leak is still uncertain.