Poly hacker returns over $1 million in cryptocurrencies

After a multi-platform hack yesterday, a hacker returned more than $1 million in stolen cryptocurrency back to the network.

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Yesterday afternoon, Poly Network reported that more than $600 million

was hacked

from multiple network partners. The network released an initial statement on Twitter, including funds on Binance, Ethereum

and Polygon.

Shortly after the attack, Poly addressed the hack in an official statement that deemed the attack the largest in DeFi

‘s history. The network highlighted the consequences of the hack and the loss of thousands of network users. Sponsored Poly

Network concluded the statement by saying: “you should talk to us to work out a solution”.

Today, the hacker returned the funds back to the network. The initial transfer of funds was $10,000 USDC. However, shortly after the first tranche, the hacker returned approximately

$1 million.

Currently, the Poly network and its community are waiting to see what the hacker will do next. Poly has provided a number of wallet

keys that allow the hacker to easily return the stolen funds.

After returning the $1 million USDC, Poly Network sent

a message to the hacker confirming the transfer and adding, “you are moving in the right direction.”

Increase in Cyber Attacks

This year, cyber security is a major topic for the cryptocurrency community as more people enter this space due to the popularity of NFT

. A report in late 2020 calculated the total cost of security incidents in the cryptocurrency industry over a decade to be equal to $7.6 billion.

Concerns about these types of attacks are not diminishing. This year, cyberattacks targeting Bitcoin

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have increased by nearly 200%. As cryptocurrency industry assets become more valuable and desirable, so does the need for enhanced security protocols across the industry.


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