Defi Hacked: Cryptocurrency hacker returns $260m in funds, says he did it ‘for fun’
There have been growing concerns concerning the latest and largest cryptocurrency heists where a hacker hacked a Defi platform, Poly Network but returned almost half of the $600m (£433m) stolen assets.
There have been growing concerns concerning the latest and largest cryptocurrency heists where a hacker hacked a Defi platform, Poly Network but returned almost half of the $600m (£433m) stolen assets.
Poly Network, on Tuesday, wrote a letter on Twitter, asking the individual to get in touch “to work out a solution”.
Notwithstanding, the hacker published a three-page-long Q&A session on one of the blockchains essentially in the form of a self-interview, according to Tom Robinson, co-founder of Elliptic, London-based blockchain analytics and compliance firm.
The $600 million Poly Network hacker has published part one of a "Q&A":#polynetworkhack pic.twitter.com/3y1JQnHe50
— Tom Robinson (@tomrobin) August 11, 2021
The hacker claimed to have always planned to return the tokens and said the heist was carried out to highlight vulnerabilities in Poly Network software.
“I know it hurts when people are attacked, but shouldn’t they learn something from those hacks?” the hacker wrote in the notes embedded on the Ethereum blockchain.
The hacker claimed to have spent all night looking for a vulnerability to exploit. They said they were worried that Poly Network would patch the security flaw quietly without telling anyone, so they decided to take millions of dollars in cryptocurrency tokens to make a point.
But they stressed that they did not want to cause a “real panic [in] the crypto-world”, so they only took “important coins”, leaving behind Dogecoin, the cryptocurrency that started off as a joke.
Important Notice:
We are sorry to announce that #PolyNetwork was attacked on @BinanceChain @ethereum and @0xPolygon Assets had been transferred to hacker's following addresses:
ETH: 0xC8a65Fadf0e0dDAf421F28FEAb69Bf6E2E589963
BSC: 0x0D6e286A7cfD25E0c01fEe9756765D8033B32C71— Poly Network (@PolyNetwork2) August 10, 2021
As he promised, the hacker posted messages pledging to return funds, claiming to be “not very interested in money”.
The company, a blockchain platform that lets users swap different types of digital tokens, posted on Twitter that it had been sent back three cryptocurrencies, including $3.3m worth of Ethereum, $256m worth of Binance Coin and $1m worth of Polygon.
So far, we have received a total value of $4,772,297.675 assets returned by the hacker.
ETH address: $2,654,946.051
BSC address: $1,107,870.815
Polygon address: $1,009,480.809 pic.twitter.com/bPFAQk4mvS— Poly Network (@PolyNetwork2) August 11, 2021
More so, a total of $269m in Ether tokens and $84m in Polygon tokens has yet to be recovered. A blockchain is a ledger, or log, of every single transaction made of a cryptocurrency, such as Bitcoin.
The ledger is distributed to all the users in the network to verify all new transactions when they occur, instead of being held by anyone single authority.
However, widespread criticism have sprouted their wings concerning the safety and security of the Defi network;
A big DeFi hack. Brings up a few controversial topics:
1. is CEX or DeFi safer? Well, they are just different. They have different risk characteristics. Learn about how to use them safely before using them. (read my previous tweet)
— CZ ? Binance (@cz_binance) August 10, 2021
