Hacker Returns $258 Million From $600 Million Stolen
In an unusual twist for one of the largest cryptocurrency heists ever, a hacker who stole more than $600 million in tokens from blockchain-based platform Poly Network started sending back the stolen funds Wednesday.
This came after a slew of cryptocurrency experts and businesses pledged to track the hacker’s crypto wallet on the blockchain and help retrieve the assets according to a report by Forbes.
Transactions publicly stored on the blockchain show an address belonging to Poly’s hacker started returning the assets through several transactions early Wednesday.
So far, Tom Robinson, the chief scientist at blockchain analytics company Elliptic, says Poly has received about $258 million of the stolen funds, meaning about $350 million in stolen funds have yet to be retrieved.
The alleged hacker has been leaving notes alongside the transactions, which continued throughout Wednesday morning, in one instance saying:
Just dumped all assets on [blockchains] BSC & Polygon. Hacking for Good, I did save the project.
In another message, the hacker included his cryptocurrency wallet address and asked for donations from those supporting his decision to return the stolen assets, which included about $267 million in ether, $252 million in binance coins, and roughly $85 million in USDC tokens on the Polygon network.
The reversal comes after Poly demanded in a string of tweets that the hacker start returning the funds to three cryptocurrency wallet addresses, at one point saying the money stolen belonged to “tens of thousands of crypto community members.”
Tuesday’s hack on Poly marks one of the biggest hacks in cryptocurrency history and is even bigger than the $460 million hack on cryptocurrency exchange Mt.
Shortly after the Tuesday morning exploits, Poly urged cryptocurrency miners and exchanges to “blacklist” tokens coming from the hacker’s addresses, and many soon heeded the call.
Executives at some of the world’s largest cryptocurrency exchanges—including Huboi, OKEx, and Binance, said they were monitoring their platforms for any activity by the hacker according to Forbes.