ContenPolygon is a platform focused on scalability and infrastructure development on the Ethereum network. Polygon, formerly known as Matic Network, aims to increase transaction speed and capacity as a layer 2 solution, a network built on top of the Ethereum main chain.
MATIC, which has fallen 3.81% in the last 24 hours and at the time of writing, is among the day's top losers. One of India's largest cryptocurrency exchanges suffered a $230 million attack in the morning. The exchange announced that there was a security breach in their multi-signature wallets and the team is actively investigating the incident. Withdrawals were temporarily halted to protect users' funds. It is known that 20.5 million MATICs among various altcoins were disposed of in the attack. The attackers' sale of these assets may have negatively affected the MATIC price.tEN
