Poly Network Invites $600 Million Hacker to Become Chief Security Advisor
- Poly Network has invited the person behind the $600 million exploit to become its Chief Security Advisor.
- The company has been in constant communication with the hacker, who agreed to return all of the stolen bugs and refused to accept a $500,000 bounty.
Shutterstock
In a blog post published on 17 August, Poly Network announced it has invited the hacker responsible for the network’s $600 million exploit to become its Chief Security Advisor. The development team behind Poly Network has reportedly been in constant contact with the hacker, who has agreed to return all of the stolen funds.
Over $400 million worth of tokens from Ethereum, Binance Smart Chain (BSC), and Polygon has already been returned to Poly Network. The company said that the hacker promised to return the private keys to the network’s addresses and the remaining funds soon.
Poly Network reiterated that it doesn’t plan on holding the hacker legally responsible for the exploit, adding that the company was “grateful” for his contribution to its security enhancements. While the hacker previously declined to accept a $500,000 bug bounty, Poly Network said it will still transfer the amount to a previously approved address for the hacker to use “for the cause of cybersecurity.”
“While there were certain misunderstandings in the beginning due to poor communication channels, we now understand Mr. White Hat’s vision for Defi and the crypto world, which is in line with Poly Network’s ambitions from the very beginning — to provide interoperability for ledgers in Web 3.0,” the company said in the post.
- DeFi lender Tender.fi has paused all borrowing while investigating an exploit which saw an attacker borrow $1.6 million worth of assets using only 1 GMX token.
- The attacker, however, appears to be a white hat hacker who the platform has already contacted in order to remedy the situation.
Shutterstock
- The biggest hacker involved in Transit Finance’s exploit last week has agreed to return the remaining funds, and will keep 2,500 BNB tokens as bounty.
- The platform has also warned three other individuals involved in the incident that if the stolen funds are not returned by 12 October it will take legal actions.
- It appears as the individual that stole around $600 million in tokens from Poly Network is in fact a white hat hacker.
- While the hacker is yet to return all the stolen funds, he has started gradually transferring tokens to the three wallet addresses Poly Network provided.