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Poly Network says it has recovered all $610 million it lost in cryptocurrency heist

One of essentially the most uncommon cryptocurrency heists in current reminiscence has come to an in depth. On Monday, Poly Network, a decentralized finance platform that noticed a hacker named “Mr. White Hat” exploit a vulnerability in its code to steal $610 million in Ethereum, Shiba Inu and different cryptocurrencies, says it has recovered all the money it lost in the theft.

“At this point, all the user assets that were transferred during the incident have been fully recovered,” the company said in a Medium post. Poly Network is now working to return management of these digital currencies to their rightful house owners, a course of the company says it hopes to finish as quickly as attainable.

The Poly Network hack took one unusual flip after one other. Less than a day after stealing the digital currencies, the hacker began returning hundreds of thousands and despatched a token indicating they have been “ready to surrender.” Everything was going easily till they locked greater than $200 million in property in an account that required passwords from each them and Poly Network. They mentioned they might solely present their password as soon as everybody was “ready.” At that time, Poly Network provided the hacker a $500,000 reward.

It’s unclear why the perpetrator had a change of coronary heart, although some specialists consider they could have discovered it troublesome to launder and money out the money that they had on their arms. All we have now to go on from the hacker is that they have been making an attempt to assist in their very own means.

“My actions, which may be considered weird, are my efforts to contribute to the security of the Poly project in my personal style,” the hacker mentioned in a message they included with the ultimate transaction, in line with CNBC. “The consensus was reached in a painful and obscure way, but it works.”

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