News

Hacker of Poly Network crypto heist returns $260 million of funds

poly network hack

The hacker who stole $613 million funds from decentralized finance (DeFi) platform Poly Network reportedly returned $260 million of funds last Wednesday, August 11, according to Poly Network’s update on their official Twitter account. However, the remaining $353 million is yet to be recovered.

According to digital messages retrieved by crypto tracking firms Elliptic and Chainalysis, the hacker posted messages in a Q&A session, claiming they are not interested in money and only did it for fun and to ‘expose the vulnerability’ in Poly Network’s system.  

‘I know it hurts when people are attacked, but shouldn’t they learn something from those hacks?’ stated the hacker. 

Additionally, in a BBC interview, co-founder of Elliptic, Tom Robinson, expressed his thoughts on the issue, stating: 

‘Either they just intended to commit theft and steal the assets, or they were acting like a white hat hacker to expose a bug, to help Poly Network make themselves more strong and secure,’

‘I wonder whether this hacker stole the funds, realised how much publicity and attention they were getting, realised wherever they moved the funds they would be watched and decided to give it back,’ he added.

The hacking incident happened on Tuesday, August 10 and is considered to be the biggest crypto heist in history. Poly Network posted on Twitter to announce the incident and urged miners to blacklist tokens coming from the addresses provided in the Tweet. 

Moreover, the firm also posted a photo of an open letter to the hackers stating: 

‘We want to establish communication with you and urge you to return the hacked assets. The amount of money you hacked is the biggest in DeFi history. Law enforcement in any country will regard this as a major economic crime and you will be pursued. It is very unwise for you to do any further transactions. The money you stole is from tens of thousands of crypto community members, hence the people. You should talk to us to work out a solution’. 

As of today, the hacker or hackers are yet to be identified.

Find out more about the latest cryptocurrency news and cryptocurrency updates at BTC Post.

Cryptocurrency Market Capitalization
  • bitcoinBitcoin (BTC) $ 19,469.30 1.56%
  • ethereumEthereum (ETH) $ 1,062.66 3.25%
  • tetherTether (USDT) $ 1.00 0.13%
  • usd-coinUSD Coin (USDC) $ 1.00 0.1%
  • bnbBNB (BNB) $ 216.06 2.1%
  • binance-usdBinance USD (BUSD) $ 1.00 0.02%
  • xrpXRP (XRP) $ 0.314382 0.54%
  • cardanoCardano (ADA) $ 0.447831 0.89%
  • solanaSolana (SOL) $ 32.58 2.19%
  • dogecoinDogecoin (DOGE) $ 0.065931 2.47%

Expand your knowledge and invest in the cryptocurrency industry.