The Poly Network hacker returned all the stolen funds with the exception of USDT
The hacker of the Chinese Poly Network firewall protocol reimbursed the project for all the stolen funds except for $33 million in USDT, which Tether froze after the attack.
Stablecoins cannot be moved without the permission of the issuer. Tether is already working on it.
“We will speed up the work to get the funds back,” Tether technical director Paolo Ardoino said in a comment to The Block.
According to him, the company will most likely burn the tokens and reissue them to transfer to Poly Network, instead of trusting a hacker to transfer funds after defrosting.
Earlier, the attacker returned $85 million stolen from the Polygon network and $253 million from the Binance Smart Chain.
Recall that on August 10, the Poly Network inter-network protocol was subjected to the largest attack on the Ethereum, Binance Smart Chain and Polygon blockchains in the history of the industry. The cumulative damage amounted to $611 million in various cryptocurrencies. Some of the stolen funds in USDT were blocked.
On August 11, the hacker announced his intention to return the funds. The project team has created three wallets for this purpose. Experts have suggested that one of the reasons for the refund was that the hacker lit up personal data.
Developer Kelvin Fichter analyzed in detail the mechanism of the attack on the Poly Network. The hacker forged the data, forcing the network to authorize transactions with large amounts of three blockchains, which he then sent to his own wallets.
Subsequently, the attacker admitted that he was hacking for fun, and chose Poly Network because hacking cross-chain protocols is “hot”.