The crypto world on Tuesday saw what might have been the largest hack and loss of funds of all time. As my colleague Olga Kharif reported, $600 million was stolen from a cross-chain protocol called PolyNetwork.
As everyone knows, the thing with crypto is that there’s basically nothing you can do about a hack once it happens. A sufficiently decentralized blockchain is a virtually immutable ledger. It’s extremely difficult, if not impossible, to roll back or do anything about a hack. Once a coin changes hands, that’s it.