July 24, 2024
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Poly Network Hacker Appears To Be Ready To Repay Stolen Cash.

The Poly Network hacker has stated his willingness to restore the stolen cryptocurrency assets. This follows a huge $600 million exploit of the cross-chain protocol Poly Network.

The Hacker Appears To Pay Back

The hacker made an Ethereum transaction to themself at 4:00 UTC on Wednesday. Therefore, claiming in an embedded transaction message that they were “ready to refund the amount.”

The hacker then requested a multisig wallet address to refund the cash to Poly Network in a later communication. The hacker stated:

“I was unable to make touch with the poly. I need a protected multisig wallet from you.”

Poly updates their twitter

On Wednesday, Poly Network updated its Twitter account, offering three distinct wallet addresses for the hacker to return the stolen cash to the network. Poly Network indicated in a message hidden in an Ethereum transaction to the hacker’s account:

 “We are preparing a multisig address controlled by recognised Poly addresses.”

The White Hat Hacker

Moreover, the person behind the Poly Network’s enormous decentralised financial vulnerability, according to cross-chain developer initiative O3 Labs, might be a white hat hacker.

Another message from the hacker stated:

“Winning so much money is already a legend. Moreover, saving the planet will go down in history as a legendary feat. I made a choice, no more DAO.”

Growing Popularity reason DeFi is targeted

On Tuesday, a massive hack hit the Poly Network that took assets from Ethereum, Binance Chain, and the Polygon network. The assault is the biggest DeFi exploit to date, with a value of $600 million.

However, the growing popularity of DeFi has made it a tempting target for cybercriminals. DeFi protocols have lost roughly $285 million to hackers and other weaknesses since 2019, according to a report.