Poly network, hacker returns $4.7 million to unlock frozen tether stash

Syed AhadWeb Editor

11th Aug, 2021. 09:28 pm
Poly network

The decentralized finance (defi) project Poly Network was hacked for over $600 million in digital assets. The attack was the largest hack. The next day, the hacker started to return funds back to the Poly Network team, it received $4.7 million so far as the project’s official Twitter account said.

Following the hack on Poly Network, the team issued a letter to the hacker, requesting that the hacker begin talking with the project’s members. “Law enforcement in any country will regard this as a major crime and you will be pursued,” Poly Network’s letter told.

The hacker apparently sent messages to the Poly Network staff, emphasizing that the hack could have been of lower quality.

The project has seen $4.7 million returned, according to the official Poly Network Twitter account. “So far, we have received a total value of $4,772,297.675 assets returned by the hacker,” Poly Network said. The company also revealed the amount and kind of funds the hacker give back. The returned crypto assets contain, $2,654,946.051 (ETH address), $1,107,870.815 (BSC address) and $1,009,480.809 (Polygon address).

A security company called Slowmist claims that the hacker’s ID was exposed and they have access to the hacker’s email and IP address. The hacker was clever to leverage a comparatively unknown crypto exchange in Asia and they claimed to have a lot of data on the attacker.

Reports show a white hat hacker has been trying to talk with the Poly Network attacker. “We can offer you a security bounty when you return all the remaining assets. We will provide a secure address through email,” the white hat wrote.

He further wrote, “The decision made by DAO can’t change the fact that the assets are stolen from crypto believers. We want to offer a security bounty and we hope it will be remembered as the biggest white hat hack in history.”

In a message sent to team members, the hacker is “ready to return the funds”. The hacker told that the trial “failed to contact the Poly” and “I need a secured multisig wallet from you. It’s already a legend to win so much fortune. It will be an eternal legend to save the world. I made the decision, no more DAO.” The white hat hacker replied, “we are preparing a multi-sig address controlled by known Poly addresses.”

“Accept donations to ‘the hidden signer’ now. Encrypt your msg with his pubkey.” The hacker further said. After this statement, he returns back the amount of 1 million USDC tokens to Poly Network.

“You are moving things [in] the right direction. We received 1+M USDC on Polygon. Did you ask us to encrypt the receiving addresses with your BookKeeper public key?” the white hat hacker asked. The hacker then sent more funds back to the project’s team members. Next, the hacker would ask the team to donate to an address if they supported his decision. The hacker added:

Hacker asked “You are moving things [in] the right direction. We received 1+M USDC on Polygon. Did you ask us to encrypt the receiving addresses with your BookKeeper public key?” More funds were sent by the hacker to the Poly Network’s team members. Hacker further added that if the team members support his decision he would ask the team to provide an address.

“Encrypt your msg with his pubkey if you want to talk. Dumping sh**coins first… How about unlocking my USDT after returning enough USDC?” the white hat hacker said.

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