Poly Network confirms return of hacked funds

Cryptocurrency platform Poly Network confirmed almost all of the $610 million stolen this month has been returned by the hacker

The hacker who recently stole more than $600 million out of Poly Network in one of the biggest computer heists ever, has now handed over the private key for the remaining $141 million of looted cryptocurrency.

As CoinRivet previously reported, $610 million was stolen from the decentralised finance (DeFi) platform.

After the hack was executed, the attacker was then offered the position of Chief Security Advisor on the Poly Network team. He then agreed to hand over the wallet key. In return, Poly Network is to honour a bounty of 161 Ether worth more than half a million dollars.

Poly Network enters asset recovery

The company confirmed that the hacker – dubbed ‘Mr White Hat’ – publicly shared a private key in his possession to the multi-signature wallet through an on-chain message.

“Poly Network has successfully retrieved the remaining 28,953 ETH and 1,032 WBTC (about $141 million),” a statement said.

“At this point, all the user assets that were transferred out during the incident have been fully recovered.

“Thanks to Mr White Hat’s cooperation, Poly Network has officially entered the fourth phase of our roadmap ‘Asset Recovery’. We are in the process of returning full asset control to users as swiftly as possible.”

Disclaimer: The views and opinions expressed by the author should not be considered as financial advice. We do not give advice on financial products.

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