{"id":7816,"date":"2021-08-12T22:54:33","date_gmt":"2021-08-12T21:54:33","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=7816"},"modified":"2021-08-12T22:54:37","modified_gmt":"2021-08-12T21:54:37","slug":"poly-network-hacker-refuses-bounty-and-returns-nearly-all-funds","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/poly-network-hacker-refuses-bounty-and-returns-nearly-all-funds\/","title":{"rendered":"Poly Network hacker refuses bounty and returns nearly all funds"},"content":{"rendered":"\n
Still, on the largest DeFi hack story, the hacker has stated that Poly Network offered him a bounty<\/a> but he has not responded and instead will send back all of their money.<\/h5>\n\n\n\n
\"Poly<\/figure>\n\n\n\n

The hacker who stole $610 million from the Poly Network cross-chain decentralized finance\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a> (DeFi) protocol has returned virtually all of the funds, claiming their activities were “white hat activity.”<\/p>\n\n\n\n

According to a Thursday update from Poly Network on the incident, all of the $610 million in cash stolen through an exploit that exploited a “vulnerability between contract calls” has now been transferred to a multisig wallet held by the project and the hacker.<\/p>\n\n\n\n

The only remaining tokens are around $33 million in Tether (USDT), which were frozen as soon as the assault was discovered.<\/p>\n\n\n\n

Through encoded messages in Ethereum transactions, the hacker communicated with the Poly Network team and others. They claimed to have done the breach “for fun” because “cross-chain hacking is trendy,” but it appears they had no plans to move the monies after successfully taking them.<\/p>\n\n\n\n

On Wednesday, however, the hacker refunded $258 million of the funds after meeting with the project and users. Poly Network ruled that the hacking was “white hat behaviour”<\/a> and offered the hacker, called “Mr. White Hat,” a $500,000 reward:<\/p>\n\n\n\n

“We assure you that you will not be accountable for this incident. We hope that you can return all the tokens as soon as possible [\u2026] We will send you the 500k bounty when the remainings are returned except the frozen USDT.\u201d<\/p><\/blockquote>\n\n\n\n

“A bounty was offered by the poly, but I never answered. Instead, I'll return all of their funds,” the hacker declared.<\/p>\n\n\n\n

The biggest hack in decentralized finance appears to be coming to a conclusion now that the remaining funds, with the exception of the frozen USDT, have been refunded.<\/p>\n\n\n\n

Though the hacker's identity hasn't been revealed, Chinese cybersecurity firm SlowMist <\/a>issued an update shortly after the news of the breach leaked, claiming that its investigators had tracked down the attacker's email address, IP address, and device fingerprint.<\/p>\n","protected":false},"excerpt":{"rendered":"

Still, on the largest DeFi hack story, the hacker has stated that Poly Network offered him a bounty but he has not responded and instead will send back all of their money. The hacker who stole $610 million from the Poly Network cross-chain decentralized finance (DeFi) protocol has returned virtually all of the funds, claiming […]<\/p>\n","protected":false},"author":12,"featured_media":7818,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[73],"tags":[197,2118,2117],"class_list":["post-7816","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-defi-news","tag-defi","tag-hacker","tag-poly-network"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2021\/08\/Poly-Network-hacker-refuses-bounty-and-returns-nearly-all-funds.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/7816","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/12"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=7816"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/7816\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/7818"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=7816"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=7816"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=7816"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}