'White Hat' hacker has returned most of the stolen $600 million crypto tokens

[Woodie]

'White Hat' hacker has returned most of the stolen $600 million crypto tokens, says Poly Network

The hackers behind one of the biggest ever digital coin heists that targeted cryptocurrency platform Poly Network have returned nearly all of the $610 million-plus they stole.

Referred to as Mr White Hat by the Poly Network, the "ethical hackers" who generally aims to expose cyber vulnerabilities, upon the return of the funds, has "transferred to the multi-signature wallet" controlled by the hacker and the Poly Network team.

The only remaining tokens to be returned are the $33 million in tether stablecoins frozen earlier in the week by cryptocurrency firm Tether, Poly Network said.

"The repayment process has not yet been completed. To ensure the safe recovery of user asset, we hope to maintain communication with Mr. White Hat and convey accurate information to the public," Poly Network tweeted.

https://www.moneycontrol.com/news/business/cryptocurrency/white-hat-hacker-has-returned-most-of-the-stolen-600-million-crypto-tokens-says-poly-network-7328431.html
I find this to be quite interesting, did Mr White Hat find it difficult to move or sell these tokens thought the Poly blockchain operates on interoperability. Could the hacker have found it difficult to exchange stolen cryptocurrency  for cleaner coins

[hugeblack]

The whole case is a scandal for Poly Network and for those coins/tokens that claim to be decentralized and decentralized finance.
Frankly, a person would be stupid if he forgot such a hack and returned to investing because the fees are very low. Unfortunately, most humans are as stupid and memoryless as fish.
It is similar to Ethereum Classic but on a larger scale.

Again, stablecoins is risky than bitcoin.

[Refrumatrix]

This is still very hard to believe, there is no such thing called honor among thieves, how can an hacker go through a lot to hack a security server just to return the money they stole? This doesn't sound right and I believe that we are only hearing half part of the truth

[blockman]

I wouldn't validate that as a white hat hacker. If he's that type of hacker, he'll contact immediately Poly network's administration that he has found some vulnerabilities that can be exploited by people like him. But no, he chose to hack them without any words of notification and didn't inform them that he has found it yet instead, he has taken them. Well, it seems that he's the good guy now because of the amount that was taken and returned.

did Mr White Hat find it difficult to move or sell these tokens thought the Poly blockchain operates on interoperability. Could the hacker have found it difficult to exchange stolen cryptocurrency  for cleaner coins

Probably, since the wallet address that has been tracked to him can or probably have been blocked and blacklisted already by the other possible exchanges where he can sell those stolen stuff.

[vabchgent]

This is still very hard to believe, there is no such thing called honor among thieves, how can an hacker go through a lot to hack a security server just to return the money they stole? This doesn't sound right and I believe that we are only hearing half part of the truth

Wasn't the problem for the hacker that they couldn't access the coins securely? I don't know if someone maybe whistle blowed and the other side had some information about them and they made a deal not to disclose the info if the hackers return the coins or something like that. I guess that we only know half the truth is probably right. The hackers might have been surprised themselves that it worked out, overwhelmed by the success they decided to pull it off and then realized that this is going to put them in jail forever if they made a mistake and didn't completely destroy any trace that might lead investigations to them.

[coin-investor]

This is still very hard to believe, there is no such thing called honor among thieves, how can an hacker go through a lot to hack a security server just to return the money they stole? This doesn't sound right and I believe that we are only hearing half part of the truth

They are just afraid to get exposed and they are not really criminals because they are tracked, they are not hardened criminals and still have a conscience, but still, they should be prosecuted to give warnings and messages to those who will attempt to hack or steal people's money, networks should beef their security, and hire the best security IT to avoid similar hacking to happen again.

[dhemasm]

I find this to be quite interesting, did Mr White Hat find it difficult to move or sell these tokens thought the Poly blockchain operates on interoperability. Could the hacker have found it difficult to exchange stolen cryptocurrency  for cleaner coins

Depends on how you see it i suppose, There will be different perspective from everyone, The other will see it as "White Hat" Hacker and helping it by finding vulnerablities then report it and the other will see it as another Hacker that stole the asset but confused to exchange since everyone can track it and the chance to get arrested or doxxed was high. From my personal Perspective it's same with you, The Hacker was difficult to exchange the stolen asset to other Crypto or converting to fiat so he/she return it and becoming the good Person (?) Well it was huge case ($610 Million it was really huge amount) and it will be difficult to move it to anywhere.

[Jackl87]

'White Hat' hacker has returned most of the stolen $600 million crypto tokens, says Poly Network

The hackers behind one of the biggest ever digital coin heists that targeted cryptocurrency platform Poly Network have returned nearly all of the $610 million-plus they stole.

Referred to as Mr White Hat by the Poly Network, the "ethical hackers" who generally aims to expose cyber vulnerabilities, upon the return of the funds, has "transferred to the multi-signature wallet" controlled by the hacker and the Poly Network team.

The only remaining tokens to be returned are the $33 million in tether stablecoins frozen earlier in the week by cryptocurrency firm Tether, Poly Network said.

"The repayment process has not yet been completed. To ensure the safe recovery of user asset, we hope to maintain communication with Mr. White Hat and convey accurate information to the public," Poly Network tweeted.

https://www.moneycontrol.com/news/business/cryptocurrency/white-hat-hacker-has-returned-most-of-the-stolen-600-million-crypto-tokens-says-poly-network-7328431.html
I find this to be quite interesting, did Mr White Hat find it difficult to move or sell these tokens thought the Poly blockchain operates on interoperability. Could the hacker have found it difficult to exchange stolen cryptocurrency  for cleaner coins

I am also not really sure and i doubt that it really was the hackers intention from the beginning to just show the weaknesses of the polygon network and then send the stolen tokens back. I would guess that last few days were probably the most thrilling ones in the life of the hacker so far with a value of 600m+$ on his wallets and instantly becoming super reach, at least virtually. A guy that is so good in hacking is probably also very smart and knows that there is probably no way to move and eventually pay out such huge amounts of money without people or official institutions noticing. I know that privacy blockchains exist but i doubt that you can achieve that your transaction are fully untraceable with them.

[Xinarae*]

It's really good news that white hat hackers have returned stolen 600 million worth of crypto tokens. Hackers don't usually return stolen money I'm sure where the hackers could exchange this currency also their fraud was caught by everyone they returned everything for fear of legal action to get all the information. I think they didn't control their idea of ​​the new hacker crypto market much less accurately and the companies weren't very smart so they couldn't communicate properly.

[cryptoaddictchie]

This is still very hard to believe, there is no such thing called honor among thieves, how can an hacker go through a lot to hack a security server just to return the money they stole? This doesn't sound right and I believe that we are only hearing half part of the truth

Although his action could be consider stealing. He did emphasis some of his action, I find it quite suprising he will return the funds. Maybe it will hard for him to spend it or exchange. But if you are gonna be jail for doing something its worth to keep the money right? But he indeed return the funds meaning he is confident of his stance. This show how efficient he is anf dont scared that he will be tracked. Anyway its not like a good thing to follow.

[Jercyhora2]

instead of standing up and pushing the "hack" to be successful, the hacker chose to just return the coin he stole to look like a good person.

Honestly, if I was the thief who wanted to steal, I would give the coins I got to anyone at different addresses. Then I'll take the big percentage, maybe I can get 5 to 10% of the coin. So that it doesn't become too obvious to me. 

[ryzaadit]

Not white-hat hacker ~LOL.

The problem, how the hacker laundry the money to be cashout on "Real-life" that the hardest problem needs to be solved by the hacker. He can't send or cash-out money from the exchange, and with such huge money, even he doing "P2P" transaction is always has some limited crypto to be sold.

IDK, why not take the bounty program.

[ampu]

Looks funny, maybe the hacker group could not swallow it and had to return the stolen tokens to the project. This was like a miracle and it happened. DEFI projects need to review their source code very carefully before using it. Too many DEFI projects have been hacked in the past year, such events need to stop. The funniest thing is that I still see MATIC go up by 20% even though there's such awfully bad news happening.