Poly Network Hacker Returns Stolen Cryptocurrency Funds
The hacker behind the massive Poly Network exploit begins sending back hundreds of millions of dollars in stolen digital assets. Experts suggest the attacker acts as a white-hat hacker aiming to expose security flaws rather than steal for personal gain.
The hacker who drains over $600 million from the Poly Network cross-chain protocol starts returning the stolen cryptocurrency to the project. Transaction records show the attacker sends millions of dollars in USDC, BTCB, fei, and shiba inu tokens to official recovery wallets set up by Poly Network on the Ethereum, Binance Smart Chain, and Polygon blockchains.
Before initiating the transfers, the hacker uses embedded blockchain messages to state a willingness to return the funds and requests multisignature wallets from the project. The hacker also leaves a public message asking for donations to an entity called "The Hidden Signer," which prompts dozens of onlookers to send begging messages through the same blockchain communication method.
Industry experts from O3 Labs suggest the attacker is a "white-hat" hacker who exposes a vulnerability in Poly Network's smart contracts to make the network more robust rather than a "black-hat" criminal seeking personal financial gain. By the time the hacker announces the plan to return the assets, the initial stolen balance drops from over $600 million to less than $400 million.