Poly Community Hacker Returns Nearly All of $611M Loot

Poly Community Hacker Returns Nearly All of $611M Loot

The Poly Community hacker has returned just about all of the $611 million they stole earlier this week. $33 million of USDT remains frozen.

Key Takeaways

  • The Poly Community hacker has returned the the relaxation of the $611 million they stole this week on Ethereum mainnet.
  • The group confirmed that almost all of the funds were recovered, with the exception of for $33 million fee of frozen USDT stablecoins.
  • In an onchain message, the group equipped the hacker a $500,000 as a thank you for exposing a security worm.

Poly Community confirmed that it had bought the closing funds from the attacker in a multi-sig pockets.

Hacker Returns Property to Poly Community

The Poly Community hacker who stole $611 million this week has returned the closing funds on Ethereum mainnet after a day of negotiations.

Poly Community runs a series of tidy contracts that permit deplorable-chain transactions between Ethereum, Polygon, Binance Clear Chain.

The project made headlines Tuesday after it misplaced extra than $600 million in what changed into once described as ideal crypto hack in historical past.

The losses consisted of $272 million fee of tokens on Ethereum, $253 million on Binance Clear Chain, and $85 million on Polygon.

Following the incident, the hacker determined to return just about all of the funds. In a “Q&A” discussion posted interior Ethereum transactions, the hacker told the Poly Community neighborhood that they applied the attack to “for stress-free” to expose the vulnerability earlier than others might maybe well well well exploit it.

The day before at the fresh time, the hacker—dubbed “Mr. White Hat” by the Poly Community group—returned over half of of the stolen assets on Binance Clear Chain and Polygon.

The group has since confirmed that it’s bought the closing funds, minus $33 million fee of USDT frozen by Tether.

— Poly Community (@PolyNetwork2) August 12, 2021

“The total closing person assets on Ethereum (with the exception of for the frozen USDT) had been transferred to the multi-sig pockets controlled by Mr. White Hat and Poly Community group,” a Thursday Twitter display read.

Potentially the most recent transaction consisted of $230 million fee of digital assets alongside side ETH, DAI, USDC, and WBTC in a multi-sig pockets controlled by the hacker and the group.

The group also acknowledged it plans to negotiate to unfreeze the USDT stablecoins nonetheless held within the hacker’s pockets.

In an onchain message, the group thanked the hacker for exposing the worm, earlier than announcing that it notion “the motion constitutes white hat habits”. To boot they equipped a $500,000 bounty and warranted that no lawful motion might maybe well well well be taken.

Contrary to media reviews, the hacker’s identity remains nameless. Within the Q&A discussion posted on Ethereum, they acknowledged that they were using a “non permanent email, IP, or so-referred to as fingerprint, which were untraceable.”

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