Hacker of Poly Network Shares Key for Wallet Containing a Large Amount of Remaining Fund

According to the latest reports, the hacker has recently made contact claiming to return the remaining funds he had stolen from Poly Network. It was two weeks back when the Poly Network had fallen victim to a hack where it ended up losing $610 million worth of funds to the hacker.

Poly Network is one of the most prominent platforms that is based on the decentralized finance (DeFi) network. However, the Poly Network ended up being attacked by the hackers two weeks back who stole $610 million worth of funds from the protocol.

The reports confirm that the name of the particular hacker of the Poly Network was dubbed “Mr. WhiteHat”. The Poly Network team has confirmed that the hacker has already contacted them and has returned the remaining funds they had hacked.

The team has confirmed that as a result of the hack, the hackers had managed to steal away an enormous number of ETH and WBTC. However, they have returned 1,032 WBTC and 28,953 ETH out of the total digital assets they had stolen in the hack.

The team has revealed that the hacker contacted their platform and provided the private key to the wallet that had multiple signatures in it. The information for the particular wallet was provided by the hackers through a message delivered through the blockchain.

According to the analysts, it is by far the largest hack that has taken place in the entire history of the decentralized finance industry. Although the platform ended up losing $610 million worth of funds in the form of cryptocurrencies initially, things turned out to be somewhat favorable for Poly Network.

The on-chain data analyzing firms have stated that the outcome of the hack could have been much worse. However, the hackers returning $141 million worth of cryptocurrencies to Poly Network is a breather for the protocol. The hackers had already returned the large $469 million worth of cryptocurrencies back to Poly Network after a week.

When the hack took place two weeks back, it was just like other hacks that the DeFi industry has incurred. However, the situation changed when the hackers revealed that they did it just to show the vulnerability of the network. Through their hack, the hackers showed that Poly Network needed more security and strong infrastructure to protect the assets of their clients.

The hackers reportedly used the vulnerability they had established in order to transfer the funds to another wallet.

Following successful hack by the hackers, the Poly Network team offered them $500,000 for being able to bypass their security protocols. Furthermore, the Poly Network team has also offered a job to the hackers to provide their support and knowledge to the network.

Leave a Reply

Your email address will not be published.