Poly Network, Cryptocurrency Platform who lost $610 million In a hack earlier this week, it was confirmed on Friday that it had offered a $500,000 “bug bounty” to the hacker or hackers.
In a statement it thanked the hacker – whom it called “white hat“, sector jargon for an ethical hacker who usually aims to uncover cyber vulnerabilities – who returned the bulk of the money “to help us improve the security of the poly network.” The network also Said that he expects “Mr. White Hat” to contribute to the continued development of the blockchain sector upon accepting the $500,000 reward, which he introduced as part of the conversation around the return of digital coins.
The statement did not specify the form in which he would pay the $500,000. It said the hacker had responded to the offer but did not say whether it was accepted. Digital messages shared on Twitter by Tom Robinson, chief scientist and co-founder of crypto tracking firm Elliptic on Thursday, showed a man claiming to have hacked said Polly Networks had asked him to return stolen assets. reward was offered.
A lesser-known name in the crypto world, Poly Network is a decentralized finance (DeFi) platform that facilitates peer-to-peer transactions with a focus on allowing users to transfer or swap tokens across different blockchains. . According to blockchain forensics company Chainalysis, an as-yet-unknown hacker or hackers have exploited a vulnerability in digital contracts that the Poly Network uses to move assets between different blockchains.
According to Friday’s statement, the hacker returned $340 million in assets and transferred the bulk of the rest to a digital wallet jointly controlled by him and the Poly Network.
The remainder, held in Tether, was frozen by the cryptocurrency firm behind the stablecoin.
“After communicating with Mr White Hat, we have a more complete understanding of how the situation unfolded as well as Mr White Hat’s original intent,” the statement said. Poly Networks announced the hack on Tuesday. , but the next day it was said that the hackers had started returning the digital coins they had taken.
The hackers said in digital messages shared by Elliptic that they carried out the attack for fun and that it was always a plan to return the tokens. However, some blockchain analysts have speculated that it may be too difficult for them to launder stolen cryptocurrencies on such a large scale.
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