Poly Network offers security advisor job to hacker who embezzled $ 600 million

Poly Network offers a job of chief advisor to the hacker

In a press release published on August 17, 2021, Poly Network looks back on the biggest hack in the history of decentralized finance. A few days ago, an anonymous hacker indeed embezzled more than $ 600 million by exploiting a security flaw in the protocol.

Fortunately, the hacker has undertaken to return all of the funds stolen. He transferred all of the stolen cryptocurrencies to a multi-signature wallet. According to Poly Network, the mysterious hacker, known by the pseudonym of Mr. White Hat, only has to “transfer the private keys”. Once this last step is finalized, the multi-chain protocol will be able to “return complete control of assets to users”.

“Poly Network does not intend to hold Mr. White Hat legally responsible, as we are confident that Mr. White Hat will quickly return full control of the assets to Poly Network and its users,” Poly Network said in its latest communicated.

As promised, Poly Network will not take legal action against the hacker. On the contrary, the project team would like to thank the hacker for lifting the veil on a security breach. In order to take advantage of Mr White Hat’s expertise, Poly Network finally offered him a job as an IT security consultant. The hacker’s response to this job posting is not yet known.

“To thank and encourage Mr. White Hat for his contribution to the advancement of security in the blockchain world with Poly Network, we cordially invite Mr. White Hat to become Poly Network’s Chief Security Advisor,” announces the press release.

👉 Also read: Where and how to place your cryptocurrencies in decentralized finance (DeFi)?

Poly Network will pay the $ 500,000 bounty refused by the hacker

Similarly, Poly Network offered Mr. White Hat a bonus of $ 500,000. Claiming not to be interested in the money, he declined the award. Despite its ambiguous refusal, Poly Network undertook to pay the premium on a wallet held by Mr White Hat.

“To express our gratitude, we will always transfer this $ 500,000 bonus to a wallet address approved by Mr. White Hat for him to use at his own discretion for the cause of cybersecurity and to support more projects and of individuals, ”announces the development team.

According to the project team, the hacker would like to offer this unexpected reward to “the community that contributes to the security of the blockchain”. Nevertheless, Poly Network assures that the hacker is free to do whatever he wants with the bounty.

👉 On the same topic – The SafeDollar “stablecoin” drops to zero after exploiting a flaw in its protocol

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About the author: Florian Bayard

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