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Poly Network Hackers to Return Stolen Funds

UTC by Juhi Mirza · 3 min read
Poly Network Hackers to Return Stolen Funds
Photo: Shutterstock

Hackers have now started to return the funds from the Poly Network which were stolen from the company.

Hackers who had previously stolen millions of dollars worth of funds from Poly Network have now started to return the funds.

According to Polyganscan, the hackers have now started to deliver the stolen funds back to the Poly Network. The company had received $10000 in USDC in a wallet and another transaction amounting to $1 million was received shortly after the first one.

As many media sources reported, the Poly Network accounts held $600 Million worth of cryptocurrency at the time of the hacking, but an approximate amount of $400 remained in the accounts when the hacker announced its plan to return the funds stolen from the Poly network.

Poly Network Hacker Has Begun to Return Looted Funds

Hackers have now started to return the funds from the Poly Network which were stolen from the company in a hacking attempt. The hackers have issued a message with the transactions stating “ACCEPT DONATION TO THE HIDDEN SIGNER NOW. ENCRYPT YOUR MSG WITH THIS PUBKEY”.

An address associated with the hacker successfully returned $10000 in USDC in the company’s wallet, as well as another transaction of $1M, was also processed shortly after the first one was received and confirmed.

The hacker has been embedding several cryptic messages along with transactions and has been using the same method to communicate with the world. Earlier today, the hacker used the following method to confirm that they are now ready to return the funds. Hackers have also stated that they were previously encountering issues getting in touch with poly network’s wallet and have asked the network for their multi-signature wallets to return the stolen funds to them.

The poly network has been reportedly pursuing the hacker and has issued several messages asking the hacker to return the funds stolen from the company, the organization had also prepared three wallets operating on Binance Smart Chain, Ethereum, and Polygon to help retrieve funds from the hacker.

The Tokyo-based blockchain developer called O3 Labs has earlier speculated that the hacker associated with the Poly network’s online theft might be a whitehat hacker. The theory has been gaining momentum primarily because the hacker has readily agreed to return the funds to the network, unlike blackhat hackers who usually conduct such online thefts for their independent gains. Similarly, whitehat hackers generally perform such hacking attempts to draw out vulnerabilities embedded in the system and accentuate the flaws to make the system more reliable and secure for the masses.

Blockchain News, Cryptocurrency news, Cybersecurity News, News, Technology News
Juhi Mirza
Author Juhi Mirza

Juhi Mirza is an archaeology major who is obsessive about blockchain/Crypto technology and deems it to be the foundational philosophy of the future. Her dogged ability to research and crystallise technical facts/multiple perspectives into rivetting stories makes her an accessible finance writer. She tends to her archaeological pursuits and loves unearthing the past over the weekends.

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