Poly Network hacker appears ready to return stolen funds
Poly Network hacker appears ready to render stolen funds
The Poly Network hacker said they will return the stolen cryptocurrency funds and has asked for a secured multisig wallet.
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Following a massive $600-million exploit of cross-chain protocol Poly Network, the Poly Network hacker has claimed his willingness to return the stolen cryptocurrency funds.
At about 4:00 am UTC on Wednesday, the hacker sent an Ethereum transaction to themselves, stating that they were "fix to return the fund" in an embedded transaction bulletin.
In a subsequent bulletin, the hacker asked for a multisig wallet address to return the funds to Poly Network. "Failed to contact the poly. I demand a secured multisig wallet from you," the hacker noted.
Poly Network's Twitter account posted an update on Wednesday, providing three divide wallet addresses intended for the hacker to transport the stolen funds back to the network. "We are preparing a multisig accost controlled by known Poly addresses," Poly Network noted in a message embedded to an Ethereum transaction to the hacker's address.
Cantankerous-concatenation developer project O3 Labs suggested that the person behind the Poly Network's massive decentralized finance (DeFi) exploit could be a white hat hacker.
This hacker might even so exist of the white hat variety. Let's see. https://t.co/Y7jJykWSmS
— O3Labs (@O3_Labs) Baronial xi, 2022
Related: Possible 'white hat hacker' exploits THORChain for $8M, proposes ten% bounty
"Information technology'south already a legend to win then much fortune. It will exist an eternal legend to save the world. I made the decision, no more than DAO," some other message from the hacker said.
The attacker subsequently started returning the stolen funds, sending back over $1 million in USD Money (USDC) on the Polygon blockchain as of effectually 8:00 am UTC. Poly Network has since confirmed a receipt of funds, stating, "You are moving things to the correct direction. We received 1+Yard USDC on Polygon. Did y'all ask u.s. to encrypt the receiving addresses with your BookKeeper public key?"
Co-ordinate to data obtained past crypto announcer Colin Wu, the hacker also returned $two.65 million dollars worth of Shiba Inu (SHIB) and Fei.
Poly Network suffered a major exploit on Tuesday, which saw assets being removed from the Ethereum, Binance Chain and the Polygon network. At $600 million, the attack is the largest DeFi exploit to date.
The rising popularity of DeFi has fabricated the sector an attractive target for hackers. According to an April study by crypto research company Messari, DeFi protocols accept lost about $285 million to hacks and other exploits since 2022.
Disclaimer: This commodity was updated to reverberate that the Poly Network hacker started returning the stolen funds.
Source: https://cointelegraph.com/news/poly-network-hacker-appears-ready-to-return-stolen-funds
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