Hacker to RETURN all $610m stolen cryptos, says Poly Network

Relief as the hacker behind the Poly Network cryptocurrency heist has reportedly returned over half of all the stolen digital coins.

Poly Network, a platform that allows users to exchange crypto tokens, in a series of tweets on its official Twitter account on Thursday said the hacker will return all the stolen cryptos.

According to report, the hack who is believed to be one of the biggest crypto heists, swept $610 million worth of cryptocurrencies in a single security breach.

Recall that Poly Network on Tuesday had stated that the hackers breached its security and stole crypto belonging to thousands of investors.

The stolen digital currency comprises $273 million on the Ethereum blockchain, $253 million on the Binance Smart Chain and $85 million in U.S. Dollar Coin (USDC) tokens on the Polygon network.

The cryptocurrency platform on Thursday morning said the hacker is cooperating and in the process of returning the stolen digital currency.

“$342 million (As of 12 Aug 08:18:29 AM +UTC) of assets had been returned,” it tweeted.

“Ethereum: $4.6M BSC: $252M Polygon: $85M. The remaining is $268M on Ethereum.”

It simply identified the hacker as Mr White Hat and warned of speculation that may jeopardise the recovery process.

A white hat is an ethical hacker, according to Norton, an anti-malware software firm. The individual uses hacking skills to identify security vulnerabilities in hardware, software or networks. The individual exploits security breaches when they are legally permitted to do so.

By evening, Poly Network said the hacker had transferred the remaining assets on Ethereum to a wallet.

“All the remaining user assets on Ethereum (except for the frozen USDT) had been transferred to the multisig wallet controlled by Mr White Hat and Poly Network,” Poly Network said in a statement.

“The repayment process has not yet been completed. To ensure the safe recovery of user assets, we hope to maintain communication with Mr White Hat and convey accurate information to the public.

“Any unfounded allegations and speculation may damage the extremely important process of asset recovery.

“To achieve the goal of full recovery of both assets and cross-chain services, the team will continue to communicate with Mr White Hat actively to receive the final key.”