Poly Network offers a job to the hacker who stole US$600 million in crypto

Poly Network offers a job to the hacker who stole US$600 million in crypto

Investment
August 20, 2021 by J.D. Smith
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5 1 vote Article Rating After the attack, and after the hacker returns the stolen $600 million in crypto Poly Network offers a job to the attacker. Poly Network believes it shares with the hacker the vision of “building a robust system” and asks for patience from its investors. The decentralized finance protocol (DeFi), Poly
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After the attack, and after the hacker returns the stolen $600 million in crypto Poly Network offers a job to the attacker. Poly Network believes it shares with the hacker the vision of “building a robust system” and asks for patience from its investors.

The decentralized finance protocol (DeFi), Poly Network, after the theft suffered on its platform on August 10, now reaches out to the attacker nicknamed Mr. White Hat to join the company.

Poly Network reports that it has been in constant communication with the attacker, who was invited to become a “Senior Security Advisor” as a way of appreciation and to continue to help advance the security of the platform.

The company indicates that it hopes to count on the experience of Mr. White Hat, to “participate in the future development of Poly Network”, since they believe they share with the hacker the vision of “building a robust system”, according to a published statement. on August 17th.

We are also counting on more experts like Mr. White Hat to be involved in the future development of Poly Network since we believe that we share the vision to build a secure and robust distributed system. Also, to extend our thanks and encourage Mr. White Hat to continue contributing to security advancement in the blockchain world together with Poly Network, we cordially invite Mr. White Hat to be the Chief Security Advisor of Poly Network.

Poly Network statement on Medium

Although the hacker has not yet responded to the offer, they assure that Mr. White Hat has had conversations with the DeFi security team, in which he has expressed his concerns about the security of the platform.

In this sense, Poly Network expresses that they intend to “provide security solutions, with the objective of presenting to the public a secure system that is fully prepared for the recovery and renewal of the protocol.”

Likewise, they acknowledge that the update of the platform cannot be carried out “overnight”. In turn, they explained that they are going to “guarantee the safety” of user assets to “return them as soon as possible.”

Poly Network rules out reporting the attacker

In the publication, Poly Network informs that they will not file charges against Mr. White Hat, as they trust that he will return full control of the assets to the platform and its users.

We have made constant efforts to establish an understanding with Mr. White Hat and we sincerely hope that he will transfer the private keys as soon as possible so that we can return full control of the assets to the users as soon as possible.

Communiqué from Poly Network, decentralized finance platform.

After the attack, and after the hacker returns the stolen $600 million in crypto Poly Network offers a job to the attacker. Poly Network believes it shares with the hacker the vision of "building a robust system" and asks for patience from its investors.

What was stolen in the Poly Network attack nearly doubled all DeFi hacks so far in 2021, even before the attack.

However, they are grateful for “Mr. White Hat’s contribution to security improvements”, despite misunderstandings at the beginning of their conversations. “We understand Mr. White Hat’s vision for DeFi and the world of cryptocurrencies, which is in line with Poly Network’s ambitions from the beginning,” the platform added.

The beginning of the «relationship» between Poly Network and Mr. White Hat

It is worth remembering that the DeFi protocol for the operation of multiple blockchains, Poly Network, was violated days ago by Mr. White Hat, robbing him of US$600 million in cryptocurrencies and tokens, which would be one of the worst blows for decentralized finance platforms.

At that time, the network was attacked on Binance Smart Chain, Ethereum, and Polygon, as Crypto DeFinance reported.

After 48 hours of violating the smart contracts and draining the funds, the hacker returned a large part of the digital assets to a multi-signature wallet provided by the platform. In fact, the attacker rejected the payment of a reward for US$500 thousand that the platform had offered.


Disclaimer: The information expressed in this article are solely those of the author and do not necessarily reflect the views of CryptoDeFinance. Each and every investment and trading move involves high risk. You should always conduct your own research when making a decision in crypto investment.

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