The most notorious crypt heist in history takes sketchy turn as the last of the stolen funds are returned to Poly Network. Poly Network is Decentralized Finance project that was a target of what is said to be the biggest crypto robbery. The Poly Network hacker pointed out a major flaw in the company’s security algorithm as over $600 million were scamed out of its asset holdings.
The hacker or group of hackers who prefers to be called Mr White-Hat, started returning the company funds a few days later. Meanwhile the Poly Network had issued public messages to the hackers asking for the return of funds.
Maybe it was the abrupt public attention or the good intentions of Mr White-Hat for returning the funds. The funds transfers to the company’s coffers were completed by 14 July. However, leaving one payment out that required keys to be entered by the hacker and the company.
In an attempt to lure the hacker, Poly Network announced a $500,000 reward for pointing out the flaw in its system. Even more so, Mr White-Hat is also offered a role as the Chief Security Adviser for the same company. Though the hacker was quick to denounce both the bounties, he later agreed to accept and distribute it in a pool of fellow security freelancers.
Poly Network another reward of $500,000 for the hacker to spend at his own will. And soon after when Mr White-Hat was convinced that “everyone is ready”, he released the last of the funds to the company as well.
Some critics are also of the opinion that this is all a major publicity stunt for the company. Attracting such a large attention to clearing its name so quickly doesn’t really make up the complete puzzle. Either way, the returned funds are in the process of being transferred back into clients’ coffers.