Hacker of Historical Altcoin Attack Returns Millions! - News-Credit-Mortgage-Coin

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Friday, August 13, 2021

Hacker of Historical Altcoin Attack Returns Millions!

 



There has been an important development in the DeFi altcoin hack, which went down in history. The Poly Network hacker gave back almost all of the $611 million they stole earlier this week. $33 million USDT is frozen.


The Poly Network hacker returned the rest of the $611 million they stole from the Ethereum mainnet this week.

The team confirmed that almost all funds have been recovered, except for $33 million worth of frozen USDT stablecoins.

In an onchain message, the team offered $500,000 as a thank you to the hacker for exposing a security bug.

Altcoin project Poly Network has confirmed that it has received funds remaining in a multi-signature wallet from the attacker.


Important development in the DeFi altcoin hack that went down in history: Returned!

The Poly Network hacker, who stole $611 million this week, returned the funds remaining on the Ethereum mainnet after a day of negotiations. Poly Network runs a series of smart contracts that allow cross-chain transactions between Ethereum, Polygon, Binance Smart Chain. The project made headlines on Tuesday after losing more than $600 million in what has been described as the largest crypto hack in history.



Losses include $272 million in Ethereum, $253 million in Binance Smart Chain, and $85 million in Polygon. After the incident, the hacker decided to return almost all of the funds. In a "Q&A" discussion posted on Ethereum transactions, the hacker told the Poly Network community that they carried out the attack "for fun" to expose the vulnerability before others could exploit it.


The team offered $500,000 as a thank you to the hacker

Yesterday, the hacker returned more than half of the stolen assets on Binance Smart Chain and Polygon. The team has since confirmed that it has received the remaining funds, excluding $33 million USDT, which has since been frozen by altcoin project Tether. In a Twitter note on Thursday, the team said, “All remaining user assets in Ethereum (excluding frozen USDT) have been transferred to the multi-signature wallet controlled by Mr. White Hat and the Poly Network team.” The most recent transaction consisted of $230 million in digital assets including ETH, DAI, USDC and WBTC in a multi-signature wallet controlled by the hacker and the team.

The team also said that it plans to negotiate with the hacker to neutralize the USDT stablecoins that have also been issued. In a ten chain message, the team offered $500,000 as a thank you to the hacker for exposing a security bug. Contrary to media reports, the identity of the hacker remains anonymous. In the Q&A discussion posted on Ethereum, they said they are using a "temporary email, IP, or pseudo-fingerprint that cannot be traced."

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