A DeFi Platform, Poly Network, which got hacked last month, with the hacker or hackers stealing almost $600 million in digital tokens. The hacker who stole $600 million in crypto took advantage of a flaw in Poly Network’s software to move the digital currency to their own accounts.
The hacker who stole $600 million in crypto
In an unexpected twist, the Poly Network hacker who stole $600 million in crypto did not flee with the loot. Instead, they initiated contact with the targeted group, promising to repay all payments. Except for $33 million in tether, or USDT, which was locked by its issuers, the hacker returned nearly all the money.
However, there was an obstacle. Almost $200 million in stolen assets were locked up in an account. To unlock the assets, both Poly Network and the hacker were required to enter the passwords. The hacker first declined to reveal over their password, just stating that they would do it when everyone is ready.
Poly Network requested the hacker who stole $600 million in crypto, known as Mr. White Hat, to refund the money. The firm promised the unidentified person a $500,000 reward for assisting it in identifying a security hole in its systems, as well as a role as chief security advisor.
Poly Network now has access to the final tranche of the stolen amount, thanks to Mr. White Hat, who shared the so-called private key needed to restore the control of the remaining assets, according to a blog post published Monday by the firm.
It’s one of the strangest cryptocurrency stories we’ve heard in a long time. This hacking attack is the biggest in terms of monetary value, surpassing the Coincheck hack in 2018 where the hacker stole around $534.8 million and Tokyo-based Mt. Gox attack where $450 million worth of bitcoin were stolen.
Last week, the Japanese crypto exchange Liquid announced that it had been the victim of a cyberattack in which hackers stole $97 million worth of digital currency.
But in this particular case, Poly Network hacker who stole $600 million in crypto kept a public conversation going with their victim and finally returned all the stolen assets.
As of now, Poly Network has got control of the $610 million of stolen assets, except the frozen $33 million USDT.
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