Advertisement

Advertisement

Poly Network Announces That All The Tokens Stolen In $610M Attack Have Been Returned

Poly Network Announces That All The Tokens Stolen In $610M Attack Have Been Returned

The Poly Network took to Twitter to announce that the hacker at the center of a recent attack on the network has returned the stolen funds. The hacker, known only as “Mr. White,” had stolen over $600 Million in funds in an attack he claims he orchestrated “for fun.”

Poly Network, on its part, has offered the anonymous hacker a job as the Chief Security Advisor and has promised that it won’t be pressing charges against him. 

An End To A Harrowing Ordeal 

Poly Network posted a tweet thanking the hacker for returning the funds that were still in his possession. “Dear Hacker, Thank you. We Are Ready For A New Journey.” wrapping up the harrowing experience for all involved in the saga. 

Poly Network’s Current Situation 

The Poly Network explained its position in a blog that outlined the next steps that the network would take to restore the stolen funds. A private key to the ¾ multisignature wallet, in possession of the hacker, was the final piece required by the Poly Network, which was shared with them via an on-chain message. 

The Poly Network stated in a message, 

“Poly Network has successfully retrieved the remaining 28,953 ETH and 1,032 WBTC (about $141 million). At this point, all the user assets that were transferred out during the incident have been fully recovered.” 

The network then went on to thank the hacker for cooperating with the network and returning the stolen funds and stated that it has now started the final phase in its asset recovery plan. 

“We are in the process of returning full asset control to users as swiftly as possible.”

Recovering The Stolen Assets 

The private key shared by Mr. White on his chain was verified by the Poly Network and was indeed verified to be genuine. After taking possession of the key, the Poly Network started the process of recovering and returning the stolen assets to the victims of the hack. The network stated, 

“Thanks to the users’ patience and support for the past ten days, the Poly Network team will proceed with an accurate accounting of the assets and return them to the users within the shortest time frame possible.”

Poly Network claims that after restoring assets to their respective owners, the network will be resuming cross-chain functionality for all assets once again, subject to complete compliance to security protocols.  

Tether Still Held Up 

A further $33 Million in Tether is still frozen, but both parties involved are working together to ensure that these funds are released. Poly Network released a statement confirming that it had started the process of releasing the Tether assets as well and asked the users to be patient, stating that the funds will soon be back with them.

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

Related TAGS:

You can share this post!

Advertisement