Share this article
The hacker behind yesterday’s $600 million Poly Network exploit has started to return the stolen funds.
Poly Network Hacker Returns Funds
It seems the Poly Network hacker has had a change of heart.
The perpetrator behind the biggest DeFi attack to date has started to return the stolen funds, on-chain data shows.
The reversal comes less than 24 hours after the hacker took over $600 million across Ethereum mainnet, Binance Smart Chain, and Polygon.
In the hours following the attack, the hacker started communicating with onlookers through notes attached to transactions on the Ethereum network. In the notes, the hacker jokingly put forward the idea of creating a new token and letting the holders decide where the stolen funds should go.
My guy, just stop and turn yourself in already pic.twitter.com/wqdnui2azl
— ChainLinkGod.eth 2.0 (@ChainLinkGod) August 10, 2021
However, the hacker’s most recent messages declared that they were “ready to return the fund,” prompting Poly Network to create a set of multisig wallets where the hacker could deposit the stolen funds.
Before starting to return the funds, the hacker created a new token called “The hacker is ready to surrender” and sent it to Poly Network’s wallet. The hacker then started transferring USDC to the same wallet over three transactions totaling $1.0101 million. They also sent $1.1 million worth of the Binance-peg Bitcoin token BTCB via Binance Smart Chain, along with $2 million worth of Shiba Inu and $600,000 in stablecoins on Ethereum.
Although only around $4.7 million has been returned so far, it indicates that the hacker wants to make Poly Network whole again. The decision to return the funds may also be due to the blockchain security firm SlowMist identifying key information about the hacker, such as an email address, IP information, and device fingerprint. Additionally, the funds used to conduct the hack have been traced to the Hoo exchange, further compromising the hacker’s identity.
Update: This article has been updated to include additional funds returned by the hacker.
Disclaimer: At the time of writing this feature, the author owned BTC and ETH.
This news was brought to you by ANKR, our preferred DeFi Partner.
Share this article
The information on or accessed through this website is obtained from independent sources we believe to be accurate and reliable, but Decentral Media, Inc. makes no representation or warranty as to the timeliness, completeness, or accuracy of any information on or accessed through this website. Decentral Media, Inc. is not an investment advisor. We do not give personalized investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may become outdated, or it may be or become incomplete or inaccurate. We may, but are not obligated to, update any outdated, incomplete, or inaccurate information.
You should never make an investment decision on an ICO, IEO, or other investment based on the information on this website, and you should never interpret or otherwise rely on any of the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an ICO, IEO, or other investment. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities.
See full terms and conditions.
Someone Stole $600 Million in a Cross-Chain Hack
Cross-chain protocol Poly Network has informed users of an exploit resulting in over $600 million worth of assets being taken by hackers. The Biggest Hack in Crypto History In a…
$8 Million Lost in Major ChainSwap Exploit
ChainSwap gets hit again. Tokens Suffer in ChainSwap Attack ChainSwap has suffered another exploit. A hacker found a vulnerability in the decentralized exchange’s smart contract code last night. It gave…
What is Impermanent Loss and How can you avoid it?
DeFi has given traders and investors new opportunities to earn on their crypto holdings. One of these ways is by providing liquidity to the Automated Market Makers (AMMs). Instead of holding assets,…
DeFi Project Popsicle Finance Suffers $25 Million Attack
Yield optimization platform Popsicle Finance has been attacked, with hackers draining around $25 million of Ethereum from the Sorbetto Fragola liquidity manager. Popsicle Finance Hacked Popsicle Finance is the latest…