{"id":10968,"date":"2021-08-13T19:54:07","date_gmt":"2021-08-13T19:54:07","guid":{"rendered":"https:\/\/www.buyucoin.com\/crypto-labs\/poly-network-says-stolen-user-assets-on-eth-have-been-returned-except-frozen-usdt\/"},"modified":"2021-08-13T19:54:07","modified_gmt":"2021-08-13T19:54:07","slug":"poly-network-says-stolen-user-assets-on-eth-have-been-returned-except-frozen-usdt","status":"publish","type":"post","link":"https:\/\/www.buyucoin.com\/crypto-labs\/poly-network-says-stolen-user-assets-on-eth-have-been-returned-except-frozen-usdt\/","title":{"rendered":"Poly Network Says Stolen User Assets on ETH Have Been Returned, Except Frozen USDT"},"content":{"rendered":"

On Friday, a few days after the initial hack for $611 million, the Poly Network project detailed that the company has obtained all the assets stolen minus the frozen tether that was blacklisted by Tether Limited. The Poly Network team said they are in control of the funds along with \u201cMr. White Hat,\u201d but the repayment process is not complete. <\/strong><\/p>\n

Poly Network Hacker Returns Most of the Stolen Crypto Assets<\/h2>\n

According to a message<\/a> from the Poly Network team, a large majority of the stolen funds from the August 10 hack have been returned. The stash of tether (USDT<\/a>) are the only funds that remain in limbo according to a recent letter from the Poly Network team.
\nThe Poly Network hacker stole \u200b\u200b$611 million worth of ETH<\/a>, WETH, WBTC, UNI, RENBTC, USDT<\/a>, USDC, DAI, SHIB, FEI, BNB<\/a>, and various BEP-20 tokens. All have been returned except the frozen the USDT<\/a> which equals roughly $33 million in tethers.<\/p>\n

The Poly Network protocol is a cross-chain service that stems from the NEO<\/a> blockchain project. Poly Network leverages a few different blockchains including Polygon, Ethereum, and the Binance Smart Chain (BSC).
\nThe hacker and Mr. White Hat communicated<\/a> with the team for three days, and there\u2019s actually a confession stemming from a Q&A session with Mr. White Hat and the hacker. A lot of people assumed the hacker was exposed by leaving a fingerprint on the relatively unknown crypto exchange Hoo.com.<\/p>\n

<\/p>\n

The hacker\u2019s confession<\/a> details that the individual does not believe they were exposed. When asked if they were exposed, the hacker replied: \u201cNo. never. I understood the risk of exposing myself even if I don\u2019t do evil. So I used temporary email, IP or so-called fingerprint, which were untraceable. I prefer to stay in the dark and save the world.\u201d
\nThe hacker said again that it could have been worse and that the individual chose to ignore the \u201csh**coins.\u201d \u201cBelieve it or not, I was forced to play the game,\u201d the hacker confessed. \u201cHowever, I didn\u2019t want to cause real panic [in the] crypto world. so I chose to ignore sh**coins, so people didn\u2019t have to worry about them going to zero. I took important tokens (except for SHIB) and didn\u2019t sell any of them.\u201d
\nWhatever the case may be, the hacker was able to accomplish the largest attack on a decentralized finance (defi) project since the inception of defi. It\u2019s hard to say when Poly Network will get everyone reimbursed but receiving a great majority of the stolen funds likely saved the project.
\n\u201cI would like to give them tips on how to secure their networks, so that they can be eligible to manage [a billion-dollar] project in the future,\u201d the hacker\u2019s confession added.<\/p>\n

What do you think about the Poly Network hacker\u2019s confession and how they returned most of the stolen crypto coins? Let us know what you think about this subject in the comments section below.<\/strong><\/em><\/p>\n

Bitcoin News
\nNews, $600 Million, Black Hat Hacker, DAI, Defi hacker, Defi Project, ETH, Ethereum, Hacker, Hacker Troll, multisig, neo, Poly Network, Poly Network Hack, Poly Network hacker, Poly Network Team, Polygon, tether frozen, Uni Tokens, USDC, USDT, Wallet, White Hacker, White Hat Hacker<\/p>\n","protected":false},"excerpt":{"rendered":"

On Friday, a few days after the initial hack for $611 million, the Poly Network project detailed that the company has obtained all the assets stolen minus the frozen tether that was blacklisted by Tether Limited. The Poly Network team said they are in control of the funds along with \u201cMr. White Hat,\u201d but the…<\/p>\n","protected":false},"author":0,"featured_media":10969,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[53,3],"tags":[],"class_list":["post-10968","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blockchain-news","category-coin-news"],"_links":{"self":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts\/10968"}],"collection":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/comments?post=10968"}],"version-history":[{"count":0,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts\/10968\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/media\/10969"}],"wp:attachment":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/media?parent=10968"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/categories?post=10968"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/tags?post=10968"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}