Hacker Returns More Than $600 Million Stolen From Poly Network In Biggest Cryptocurrency Heist

NEW DELHI: It appears that the hacker responsible for Poly Network’s historic heist has changed his mind. In a company blog post on Monday, the crypto platform confirmed that the anonymous hacker (or hackers) who successfully stole approximately $610 million in crypto assets from its platform had finally surrendered the final tranche of their ill-gotten gains.

According to a blog post, Poly Network is already starting the process of recovering stolen assets like as Ethereum, Binance tokens, and Dogecoin to their original owners. Poly Network claims there is still work to be done: it is attempting to unfreeze around $33 million in assets and is continuing to restore the operation of its Poly Bridge service, which allows users to transfer cryptocurrency across blockchains.

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Poly Network maintained contact with the hacker for several weeks, even offering them a $500,000 USD “bug reward” to restore the stolen funds and inviting them to serve as the company’s “chief security advisor.” The business has offered to launch a new reward programme on the Immunefi platform worth $500,000 USD to encourage researchers to uncover and report more security holes in its technology.

The hacker declined the bounty and, in return for some of the remaining funds, wrote a message for the platform apologising for the “inconvenience” and urged it to transfer any extra assets to the hack’s victims.

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Following the incident, the hacker stated that he stole the funds in order to keep them safe, claiming that putting the coins in a “trusted account” was a way to highlight the problem without providing someone else the opportunity to steal them.

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The Poly Network attack is only one of many that have occurred in recent weeks. On August 19, hackers stole around $97 million USD in cryptocurrencies from the Japan-based cryptocurrency exchange Liquid.

In other cryptocurrency news, Bitcoin recently surpassed $50,000 USD, indicating a recovery.