Poly Network hacker returns stolen funds, denies $ 500,000 bounty

Hacker returned stolen cryptocurrency to Poly Network

In a tweet published this Thursday, August 12, 2021, Poly Network announces that it has recovered all of the stolen funds. A few days ago, a hacker had indeed managed to steal $ 611 million by exploiting a security flaw in the protocol.

“All of the user’s remaining assets on Ethereum (except the frozen USDT) have been moved into the multi-signature wallet controlled by Mr. White Hat and the Poly Network team,” Poly Network says in a statement. shared on Twitter.


– Poly Network (@ PolyNetwork2) August 12, 2021

Shortly after the incident, the hacker quickly agreed to return the funds. Through transactions carried out on the Ethereum blockchain (ETH), the man has indeed started to communicate openly with the managers of Poly Network.

Gradually, he began to return the cryptocurrencies drained during the hack. The only currencies currently not returned are the 33 million USDT which was frozen shortly after the hack.

The press release states that the reimbursement process has not yet been finalized. The Poly Network team hopes to be able to continue communicating with the hacker to ensure “safe recovery of user assets.”

👉 Also read: hacker exploits Popsicle Finance bug and drains $ 20 million

He declines a bounty of $ 500,000

On the Ethereum blockchain, the hacker assured that he never intended to keep the money. The return of funds has “always been part of his plan”. He claims to have hacked the protocol for fun.

“I am not very interested in the money! I know it hurts when people are attacked, but shouldn’t they learn something from these attacks? “, Believes the hacker, whose identity has remained unknown.

The mysterious hacker believes that Poly Network remains, despite the flaw discovered earlier this week, a “decent system” and “sophisticated”.

“As I spotted the bug, I had a mixed feeling. Ask yourself what you would have done in the face of so much fortune. Politely ask the project team to be able to fix it? […] I can’t trust anyone! », Explains the hacker, claiming to have feared that someone else would exploit the flaw.

By interacting with the hacker, Poly Network resolved to offer him a bounty of $ 500,000 for having exposed a security breach. The project team believes that the hacker behaved like a real white hat, a hacker whose sole objective is to reveal breaches in a computer system. These hackers are generally paid with bonuses.

“We assure you that you will not be held responsible for this incident. […] We will send you the bonus of $ 500,000 when the remaining funds are returned, ”offers Poly Network in another transaction on Ethereum.

Against all odds, the hacker politely declined Poly Network’s offer. On the blockchain, he explains that he “never responded” to the offer and promises to “return all their money”. Thus ends the biggest hack in the history of decentralized finance.

👉 Also read: What if… Decentralized finance (DeFi) supplanted traditional finance?

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About the author: Florian Bayard

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