The crypto market was rocked by information of what stands out as the largest DeFi hack in historical past. On August 10, the hackers made greater than $ 600 million in crypto by exploiting the Poly community. A hack that shook all the DeFi market to the core.
The hacker made off at ETH with loot of over $ 200 million. And a whole bunch of thousands and thousands in tokens. After warning a consumer that their USDT handle was being blacklisted, the hacker then despatched roughly $ 42,000 in ETH to the handle that issued the warning. This resulted in a whole bunch of transactions being despatched to the hacker’s handle asking for cash.
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This culminated in a three-day curler coaster journey of feelings and negotiations. The crew behind the Poly Community wrote a letter to the hacker in a determined try. They beg for the stolen cash to be returned to them. And far to his shock, the hacker was listening. They agreed to return the cash. Nonetheless, they requested for a multisig pockets handle to be offered for transferring the cryptocurrency.
Hacker begins to return stolen cryptos
After the pockets was offered, the hacker started returning the crypto. First, the hacker returns SHIB tokens and different tokens. That was over $ 250 million. However a lot of the loot was nonetheless within the hacker’s pockets. The Poly Community crew confirmed this in a tweet after their return.
Replace: PolyNetwork hackers returned $ 253 million to the BSC chain. pic.twitter.com/jO0SiWDtyP
– Wu blockchain (@WuBlockchain) August 11, 2021
The hacker was given numerous pockets addresses to which he may ship the cryptos. Together with an ETH pockets, a BSC pockets and a Polygon pockets. All multisig wallets based on the hacker’s specs. Which they requested as a result of they mentioned the connection to the Poly community had failed.
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Lower than 24 hours in the past, the Poly crew revisited Twitter to announce additional returns. This time with the assertion that the hacker had returned many of the stolen crypto to them. All belongings had been despatched to the multisig wallets offered by the Poly Community. Apart from the frozen USDT.
Why is the hacker doing this?
It has been speculated that the hacker’s id has been compromised. Therefore their willingness to present such a big quantity again to the community. However the hacker denied all of this. They mentioned they’d taken affordable precautions to make sure they weren’t recognized. For instance, the short-term verification of the fingerprint. Provided that one of many items of data that safety firm SlowMist disclosed was the hacker’s fingerprint.
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Different hypothesis steered that the stolen crypto was already tagged. On this case, the hacker could not spend the cash with out exposing himself. Each transaction can be meticulously tracked. This led to the invention of whoever was behind the wallets the funds had been being transferred to.
Loads had gone backwards and forwards with the hacker earlier than they agreed to return the cash. The hacker even went as far as to carry a question-and-answer session. The place they reply questions in regards to the hack, akin to why they did it. The hacker then requested what he would have carried out if confronted with a lot cash. Additionally, they are saying they “favor to remain at the hours of darkness and save the world”.
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The stolen cryptos haven’t but been absolutely launched. Multisig wallets are safe in that they require a number of signatures from concerned events. Due to this fact, the hacker would nonetheless need to log off the wallets for the funds to be launched to the Poly Community crew. As soon as the ultimate secret is obtained from the hacker, the crew can regain entry to the belongings and cross-chain providers.
Featured picture from ZDNet
