Poly Network Announces Termination of Services
Poly Network has recently made the decision to completely terminate its services, including its Poly Bridge cross-chain and other offerings. Effective September 30, 2024, all services will be shut down.
Earlier this year, in April, the team had initially announced their intention to suspend cross-chain services, only supporting existing partners and no longer deploying new services. However, due to changing market conditions, the team has now decided to shut down all services entirely. They have assured that they will be available to assist projects in transitioning away from the platform and addressing any concerns or questions that may arise.
This decision comes on the heels of Poly Network facing its third significant exploit this year. An attacker was able to steal over US $3 million in various tokens through Flamingo Finance. In response, eight addresses belonging to the attacker, including four suspected exchange deposit addresses, have been frozen.
For more information, the original announcement from Poly Network can be found at the following link: https://polynetwork.medium.com/notice-of-complete-termination-of-poly-network-services-3470ef78d9d9
Despite the challenges faced by Poly Network, they remain committed to supporting their partners through this transition period. It is clear that the team is dedicated to ensuring a smooth exit for all projects involved.