Reward for Crypto Hacker After $600m Theft

A hacker who stole slightly over $600m (£433m) worth of cryptocurrencies was given $500,000 and amnesty as an incentive for returning the money.

Poly Network made a questionable offer after the hacker agreed to give back the money.

The attempt was revealed on Tuesday when Poly Network openly appealed to the hacker for help.

One former FBI officer claimed, “private firms have no power to guarantee protection from criminal prosecution”.

The incident is one of the largest hacker heists in history. Poly Network stated the individual had exploited a weakness in its system.

Most of the money has already been given back. However, the hacker maintains they are not interested in the prize.

Shortly after the breach, the anonymous individual uploaded messages to the publicly available blockchain mocking the firm and asking for help on how to launder his stolen money.

Later, the offender claimed “not to be interested in money” and offered to return it all.
By Thursday evening, Poly Network claimed most of the remaining assets in the hacker’s hands had been moved to a digital wallet owned by both the hacker and the firm.
The Poly Network says it is still waiting for the reimbursement procedure to be finished but that it is working with the hacker.
A chunk of the stolen money was frozen immediately after the assault. It has not yet been moved but can’t be utilized by the hacker anyhow.

“The hacker still possesses $33.4m of stolen Tether [tokens] – because it has been frozen by Tether itself,” Tom Robinson, co-founder of Elliptic, London-based blockchain analytics and compliance firm, told the BBC.

He said that it could be seen on the blockchain that “a few thousand dollars worth of different tokens” were being held onto by the hacker.

It was not apparent, however, if they were part of the stolen assets or donations that the hacker urged people to pay on Thursday as a thank you for returning the money.

Other money outstanding also includes a 13.37 Ethereum tip ($40,000), which the hacker gave to a user who alerted them that the Tether tokens had been locked by their developer.

Author Images
From Islamabad

A software developer with a keen interest in writing about technology, finance, and entrepreneurship. I've written for businesses in a variety of fields, including new technology, healthcare, programming, consumer applications, corporate computing, UI/UX, outsourcing, and education.

Post a comment

Your email address will not be published. Required fields are marked *

    Press x to close