Thursday, February 22, 2024

‘Mr. White Hat ‘returns crypto theft after …


A previously unknown hacker managed to steal a record amount of about $ 613 million (520 million euros) in cryptocurrency from the exchange platform Poly Network on Tuesday. After pleading on Twitter, “Mr. White Hat” returns the stolen virtual property, little by little, to the company.

On August 10, a striking letter appeared on the Twitter account of Poly Network, a platform where users can exchange cryptocurrencies with each other. “Dear hacker, the Poly Network team wants to contact you and ask you to return the stolen funds,” it read.

The letter also said it was the highest amount ever stolen in the history of the world of ‘decentralized finance’ (cryptocurrencies, which are not controlled by central banks).

“All countries consider what you did a serious economic crime and you will be prosecuted with certainty. The money he stole belongs to tens of thousands of ordinary people. You should contact us to find a solution, “argued the letter.

The initiative paid off, although the hacker claims that he always intended to return the stolen sums. “I had already announced that decision before midnight, so that anyone who had faith in me could sleep peacefully that night (smiley wink)”.

It is one of the many messages that the hacker has hidden in the transaction documents and used to return part of the funds to the platform. “Just for fun,” replied the most successful encryption hacker in history when asked why he attacked the Poly Network.

The “ethical hacker” (white hat in English) stumbled upon a weakness in the computer code that controls transactions from one cryptocurrency to another. In his own words, “Mr. White Hat ‘just to report that weakness. In the end, the fear prevailed that a Poly Network employee would use the tip to steal himself. Also, the hacker wanted the company to really feel the warning to learn from it.

Poly Network has had scary days, but in the meantime, most of the stolen amounts have been returned to the company. On Twitter, Poly Network states that “the security of acquired property is the sword of Damocles looming over the world of cryptocurrencies.”

Ebenezer Robbins
Ebenezer Robbins
Introvert. Beer guru. Communicator. Travel fanatic. Web advocate. Certified alcohol geek. Tv buff. Subtly charming internet aficionado.

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