“We always look to work closely with our customers and regulators to address their security-related concerns,” Sam Bankman-Fried, CEO of FTX told Blockworks. “Our first priority is the users, and the same is true of Liquid.”
While devastating, hacks like Poly Networks can actually strengthen the ecosystem because they expose vulnerabilities, according to Michael Tant, an analyst at Inside and an angel investor.
The broader cryptocurrency market did not seem to have a significant reaction to the hack. Bitcoin and ethereum dipped slightly initially following the news, but were both trading in the green later in the day Tuesday.