Fun

Poly Network Hacker Returns $4.7M in Funds — Attacker Asks Devs to Unlock Frozen Tether Stash

News Feed - 2021-08-11 11:08:55

Poly Network Hacker Returns $4.7M in Funds — Attacker Asks Devs to Unlock Frozen Tether Stash


On Tuesday, the decentralized finance (defi) project Poly Network was hacked for over $600 million in digital assets. The attack was the largest defi hack to date eclipsing all of 2021’s defi hacks combined. The very next day, however, the hacker started to send funds back to the Poly Network team as the project’s official Twitter account says it received $4.7 million so far.


**Editor’s note: As of 1:45 p.m. (EDT) the hacker hasreturned $260 million in tokens. White Hat Hacker Communicates With Poly Network Attacker


The Poly Network hack will go down in history as one of the largest defi attacks since the inception of this technology. In fact, the hack is up there with some of the largest hacks in crypto as it surpassed the Coincheck hack in 2018 which saw a loss of $530 million. Following the hack on Poly Network, the team published a letter that asked the hacker to start communicating with the project’s team members. “Law enforcement in any country will regard this as a major crime and you will be pursued,” Poly Network’s letter detailed.


The hacker allegedly wrote messages to the Poly Network team and stressed that the hack could have been worse. Now, according to the official Poly Network Twitter account, the project has seen $4.7 million returned on Wednesday morning. “So far, we have received a total value of $4,772,297.675 assets returned by the hacker,” Poly Network said. The company also disclosed the amount and type of funds the hacker returned. The returned crypto assets include: ETH address: $2,654,946.051 BSC address: $1,107,870.815 Polygon address: $1,009,480.809 Moving in the Right Direction: Hacker’s Identity Possibly Discovered, Attacker Wants Tether Unfrozen After Sending USDC


On Tuesday it was discovered that a security company called Slowmist published findings on the alleged hacker. Slowmist detailed that the hacker’s identification was exposed and the group had access to the hacker’s email and IP address. According to Slowmist, the hacker was able to leverage a relatively unknown crypto exchange in Asia and they claimed to have a lot of information on the attacker.


Reports show a white hat hacker has been attempting to communicate with the Poly Network attacker. “We can offer you a security bounty when you return all the remaining assets. We will provide a secure address through email,” the white hat wrote. “The decision made by DAO can’t change the fact that the assets are stolen from crypto believers. We want to offer a security bounty and we hope it will be remembered as the biggest white hat hack in history,” the white hat hacker added.


Then the hacker was suddenly “ready to return the funds” in a message sent to the Poly Network team. Next the hacker detailed that the attempt “failed to contact the Poly” and “I need a secured multisig wallet from you. It’s already a legend to win so much fortune. It will be an eternal legend to save the world. I made the decision, no more DAO.” The white hat responded and said: “We are preparing a multi-sig address controlled by known Poly addresses.”


The hacker also said: “Accept donations to ‘the hidden signer’ now. Encrypt your msg with his pubkey.” Following this statement, the hacker sent over 1 million USDC tokens back to the Poly Network.


“You are moving things [in] the right direction. We received 1+M USDC on Polygon. Did you ask us to encrypt the receiving addresses with your BookKeeper public key?” the white hat hacker asked. The hacker then sent more funds back to the project’s team members. Next, the hacker would ask the team to donate to an address if they supported his decision. The hacker added: Encrypt your msg with his pubkey if you want to talk. Dumping sh**coins first… How about unlocking my USDT after returning enough USDC?


What do you think about the Poly Network hack and a fraction of the coins being returned the next day? Let us know what you think about this subject in the comments section below. Will the Real Polygon Please Stand Up — Spammers Wrongly Post Coin Drops on Video Game-Related Feed NEWS | 6 hours ago Circle Intends to Become a Full-Reserve National Commercial Bank NEWS | 17 hours ago Tags in this story $4.7 Million, $600 Million, Defi Project, ETH, Hacker, Hacker Troll, multisig, neo, Poly Network, Poly Network Hack, Poly Network hacker, Poly Network Team, Polygon, tether frozen, USDC, USDT, Wallet, White Hacker


Image Credits: Shutterstock, Pixabay, Wiki Commons Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article. Read disclaimerShow comments

News Feed

Indian Police Investigate 3 Companies Running a Crypto Ponzi Scheme, CEO Charged
Indian Police Investigate 3 Companies Running a Crypto Ponzi Scheme, CEO ChargedThree companies allegedly running a large-scale cryptocurrency Ponzi scheme are being investigated by
ETH PoS Upgrade to Transition on September 15 to 16 — Ethereum Devs Reveal ‘Tentative Mainnet TTD’ for The Merge
ETH PoS Upgrade to Transition on September 15 to 16 — Ethereum Devs Reveal "Tentative Mainnet TTD" for The Merge Following the successful implementation of The Merge into Ethereu
Commissioner Mark Uyeda calls SEC’s approach to crypto filings ‘problematic’
Tom Mitchelhill2 hours agoCommissioner Mark Uyeda calls SEC’s approach to crypto filings ‘problematic’Tucked away in a footnote as part of a recent statement, the SEC commissioner said his agency’s current approa
Tristan Greene6 hours agoScientists develop AI monitoring agent to detect and stop harmful outputsThe monitoring system is designed to detect and thwart both prompt injection attacks and edge-case threats.2877 Total view
Ethereum Holds Strong For Over A Year: Monthly Close Below This Level Could Be Catastrophic
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and pu
Zhiyuan Sun8 hours agoBalancer says $2.8M still at risk after vulnerability warningThe vulnerability was not exploited after its discovery on Aug. 22.283 Total views4 Total sharesListen to article 0:00NewsJoin us on soci
ADALend Sign the Contract With Robatz Network for the Cardano Native Decentralized Lending Protocol Development
ADALend Sign the Contract With Robatz Network for the Cardano Native Decentralized Lending Protocol Development sponsored PRESS RELEASE. ADALend and Robatz Network sign the contract
Bitcoin At A Crossroads: $97,000 Cost Basis Holds Key To Next Breakout
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and pu
Data privacy and security concerns worry nearly half of tech industry consumers: Report
Savannah Fortis11 hours agoData privacy and security concerns worry nearly half of tech industry consumers: ReportFor 48% of respondents in Aleo’s 2024 Data privacy report, data privacy and security are considered the
Why is Bitcoin DeFi blooming? Developers share their insights
Zhiyuan Sun6 hours agoWhy is Bitcoin DeFi blooming? Developers share their insightsExperts say that the lack of base yield and fragmented liquidity have made Bitcoin DeFi a challenging environment to navigate.805 Total v
Video Game Retailer Gamestop Partners With L2 Startup Immutable X, Launches $100 Million NFT Fund
Video Game Retailer Gamestop Partners With L2 Startup Immutable X, Launches $100 Million NFT Fund Last May it was discovered that the video game retail giant Gamestop was stepping
Dubai Café Accepts Cryptocurrency as Payment, Owner Hints at Paying Employee Salaries in Crypto
Dubai Café Accepts Cryptocurrency as Payment, Owner Hints at Paying Employee Salaries in Crypto Bake N More, a Dubai-based cafe, has become the latest company from the region to a