The PolyNetwork hacker returns all stolen funds


The hacker “Mr. White Hat”, who broke into the PolyNetwork platform, returned all the stolen funds. A few days ago, the network announced that it would not take legal action against the hacker and instead offered him a job as a senior security advisor.

In one Blog post on Monday PolyNetwork confirmed that “Mr. White Hat ”returned the stolen $ 610 million. PolyNetwork is an interoperability platform – a bridge blockchain to exchange crypto currencies without a centralized exchange. Meanwhile, PolyNetwork claims to be working to restore $ 33 million in Tether that was frozen by the stablecoin’s parent company.

Also on Monday published “Mr. White Hat ”posted a message on the Ethereum blockchain explaining his reasons for delaying the return of the stolen funds. The biggest theft to date in the history of cryptocurrencies took place on August 10th, apparently exploiting a security flaw within the PolyNetwork. A few days later, the hacker transferred some of the booty back. He turned down a reward.

“Throughout the negotiations, my only request, which was the only reason for the slow payback, was to unlock the USDT,” the hacker wrote, referring to the $ 33 million frozen tether. “In my selfish view, history is tainted by the banned USDT.” The hacker signed the message to the PolyNetwork team as “your primary security advisor,” which may indicate that he accepted the network’s job offer. PolyNetwork has not yet confirmed the appointment.

“I’ve been trying to reveal some key facts about this crazy DeFi world,” the hacker wrote in his message. DeFi is the abbreviation for Decentralized Finance and means something like decentralized finance. “Hopefully my philosophy can be inspiring, especially for the geeks who accidentally misbehaved.”

A few days after a cyber attack on PolyNetwork, the Japanese cryptocurrency exchange Liquid was the victim of a cyber attack. The company reported the theft of $ 97 million.


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