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All $610 million in stolen crypto assets returned by hacker, Poly Network says

Poly Community, the decentralized-finance platform that had greater than $600 million in crypto belongings stolen in a hack earlier this month, mentioned Monday that the entire belongings have been returned.

Poly Community mentioned the hacker, known as “Mr. White Hat,” lastly shared a personal key to a multi-signature crypto pockets Monday morning.

“At this level, all of the consumer belongings that have been transferred out throughout the incident have been absolutely recovered,” Poly Network said in a blog post. “Because of Mr. White Hat’s cooperation, Poly Community has formally entered the fourth part of our roadmap ‘Asset Restoration.’ We’re within the technique of returning full asset management to customers as swiftly as attainable.”

After the theft — one of many largest in crypto historical past — was found round Aug. 10, Poly pleaded for the hacker to contact them and return the roughly $610 million in cryptocurrencies, tokens and stablecoins. The hacker, who claimed that they had by no means meant to maintain the digital belongings and had solely taken them “for enjoyable,” agreed, and started to return the stolen gains to a shared crypto wallet the subsequent day. Nevertheless, the apparently hacker didn’t share the important thing to the pockets till very lately.

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Poly mentioned the one belongings excellent are $33 million in Tether
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tokens, which have been frozen after the theft. Tether is within the technique of unfreezing these belongings, Poly mentioned Monday.

It was unclear if Poly will pursue the case with legislation enforcement companies. The hacker had claimed that they had solely sought to reveal a system vulnerability and wished to offer Poly safety suggestions sooner or later. Some skeptics, although, mentioned it was extra seemingly that the hacker discovered it too tough to launder the crypto belongings, and determined returning them was the most secure possibility.

https://www.marketwatch.com/story/all-610-million-in-stolen-crypto-assets-returned-by-hacker-poly-network-says-11629763271?rss=1&siteid=rss | All $610 million in stolen crypto belongings returned by hacker, Poly Community says

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