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Anonymous Hacker Returns US$600m stolen from Poly Network

1 Mins read

The famous unknown hacker who had earlier stolen over $600 million from the decentralized finance platform, Poly Network, has returned almost all of the money.

Reports say that the anonymous hacker also turned down the half-million-dollar reward offered by the company for exposing its security vulnerability.

In a message, Poly Network said the hacker – whom it referred to as “Mr. White Hat,” has returned all of the stolen funds, except a small percentage that had been frozen by the cryptocurrency issuer, Tether.

Poly Network also thanked the hacker, and further asked for his support in making the industry more secure.

The hacker has thereafter, deposited the money into an account that is jointly managed by the company and the hacker.

To ensure the safe recovery of user assets, we hope to maintain communication with Mr. White Hat and convey accurate information to the public,” Poly Network said in the statement.

The hacker noted in a message published by the blockchain forensics firm, Chainalysis, that the plan has always been to return the money.

I am not interested in money! I would say figuring out the blind spot in the architecture of Poly Network would be one of the best moments in my life.”

Read also: WhatsApp introduces “View Once” feature to its Android and iOS apps

According to the forensic firm, Chainalysis, Poly Network had offered a $500k bounty to the hacker. However, the offer was never accepted.

Experts have explained that it would have been difficult for the hacker to spend the funds.

They added that the fact that blockchain transactions are publicly recorded would makes it difficult to launder money anonymously.

The best they could hope for would be to evade capture as the funds sit frozen in a blacklisted private wallet,” Chainalysis explained.

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