Poly Network Hacker Holds AMA While Slowly Returning Stolen Funds
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Poly Network Hacker Holds AMA While Slowly Returning Stolen Funds

The $612 million hacker is enjoying his 15 minutes of fame while returning the crypto stolen in DeFi’s largest-ever theft.

Poly Network Hacker Holds AMA While Slowly Returning Stolen Funds

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The person behind DeFi’s largest-ever hack has been returning the $612 million in cryptocurrency he stole from the Cross-chain protocol on August 10
At least $342 million had been returned as of 8:18 a.m. UTC, Poly Network tweeted, noting that $268 million worth of Ethereum was yet to arrive.

“As our communication with Mr. White Hat is going on, the remaining user assets on Ethereum are gradually transferred to the multisig wallet (0x34D6B21D7B773225A102b382815e00Ad876E23C2) requested by Mr. White Hat,” Poly Network added at 2:03 p.m. UTC.

While reaching out to the crypto community for help tracking the hacker as soon as it learned of the August 10 hack, Poly Network also reached out to them directly.

While threatening the hacker it has taken to calling Mr. White Hat with pursuit by the world’s law enforcement agencies, Poly network also appealed directly, noting that “[t]he money you stole are from tens of thousands of crypto community members, hence the people.”
While there has been nothing on this scale, the decentralized finance community has been hit with a growing number of attacks as the total value locked in DeFi projects skyrocketed from $1 billion last summer to more than $80 billion in August 2021, according to DeFi Pulse.
In April, blockchain research firm Massari reported that DeFi protocols had been hacked and exploited for more than $284 million since 2019. Among the largest DeFi hacks was the April 19 theft of more than $120 million from EasyFi.

Helping Poly Network?

In an ongoing AMA conducted via transaction message posted to Ethereum — search for 0xe3d30a6188ae4f2813b763b2caeef69bc8020a6211936ff9a0358ea3f6658fd7 on Etherscan —  Mr. White had said he’d hacked Poly Network “for fun” while also claiming that he was “Hacking for Good” and that he did it to “save the project.”

And, he added, he “chose to ignore shit coins” so that their prices didn’t crash “to zero.”

Specifically, he noted: "When spotting the bug, I had a mixed feeling. Ask yourself what to do had you facing so much fortune. Asking the project team politely so that they can fix it? Anyone could be the traitor given one billion. I can trust nobody! The only solution I can come up with is saving it in a trusted account.”

Besides that, Mr. White Hat also said he had “always” planned to return the funds, saying “I am _not_ very interested in money!”

He also justified his actions by saying he’d forced Poly Network to make the bug he’d used public, and that he’d taught them a lesson: “The pains they have suffered is temporary but memorable.” 

And crypto being crypto, Mr. White Hat also asked for donations, setting up a wallet for the purpose.

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