Poly Network Hacker Returns $258m After First Stealing Nearly $600m

The hacker who is responsible for stealing around $600m from Poly Network returns $258m of the missing money. This was confirmed by the chief scientist of Elliptic, a blockchain analytic company, Tim Robinson.

Moreover, due to the transactions being publicly stored on the blockchain, it was easy for investigators to notice the address which belongs to the hacker. It is visible that the hacker made several transactions on Wednesday, in order to return part of the missing tokens.

Tom Robinson went on further by saying that a heist of this magnitude is bound to impose serious difficulties:

This only demonstrates that even if you can steal crypto-assets, laundering them and cashing out is extremely difficult due to the transparency of the blockchain.Tim Robinson | Chief Scientist -Elliptic

However, this still leaves around $350m of the heist money for the hacker yet to return back to Poly Network. Additionally, the hacker posted several messages/notes in the transactions. One of them states the following:

Just dumped all assets on [blockchains] BSC & Polygon. Hacking for Good, I did save the project.

Moreover, in another message, the hacker also asks for donations in the form of cryptocurrencies. According to the hacker, the community should assist him because of his willingness to return the funds. Specifically, he asks for $85m USDC, $252m Binance Coin, and $267 Ethereum to go to the Poly Network. For this matter, he even showcases his crypto wallet address in one of the messages.

These latest attacks only support CipherTrace cyber-intel. Specifically, the crypto intelligence company claims that over 75% of the crypto-hacks have links with DeFi. Moreover, this statement only plays into SEC chairman Gary Gensler’s stance. Which is in favor of giving more liberties to governments in order to regulate DeFi platforms. He even goes on to compare the current DeFi situation to the Wild West.

Regardless of that, we still wait to see if the hacker intends to return the rest of the $258m from the Poly Network heist. And will this situation influence the future of crypto-security?

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