The Limited Times

Now you can see non-English news...

He stole more than 600 million in cryptocurrencies and decided to give it all back: the story of Mr. White Hat

2021-08-24T20:48:25.326Z


The author of the record hit to Poly Network could have kept the loot without suffering consequences, but preferred to teach a lesson.


08/24/2021 17:41

  • Clarín.com

  • Technology

Updated 08/24/2021 5:41 PM

The author of the record hit to the world of cryptocurrencies

decided to return all the assets he had stolen - the equivalent of about $ 610 million -

to the Poly Network platform.

In a spontaneous act, the cybercriminal surprised by restoring even the last crypto that he had "borrowed" from the specialized transfer platform.

"At this point, all user assets that were transferred during the incident have been fully recovered

," the Poly Network company explained in an official announcement on

Medium

.

The hacker (or group of hackers) decided to return all the money, renouncing to keep absolutely nothing of the proceeds.

In a desperate attempt, on August 10, hours of the incident, Poly Network had written a request on Twitter claiming the loot from hackers arguing that

"the money you have stolen is from tens of thousands of members of the crypto community

.

"

Either because the message struck a chord with the criminal or because Poly Network called "miners of the affected

blockchains and cryptocurrency

negotiators to veto the tokens" from those addresses,

the attacker began to return part of the bitcoin, ethereum and more tokens.

Poly Network, victim of the biggest crypto theft in history.

Within a few hours, half of what was stolen had been returned.

Little by little everything was returned and now that the $ 610 million is back in the hands of Poly Network, they 

will proceed to return it to customers

.

The anonymous hacker behind the attack, which the company dubbed

Mr. White Hat

 (

Mr Hat White

, referring to the so -

called "hacker ethics" or "good hackers")

said he had done it

for "fun" and to see if the company "learned something

.

"

The company offered the white man

a reward of $ 50,000 if he did not publicize the vulnerability

.

The hacker however insisted that it was better to donate that money to the technical community, which has made more contributions to the security of blockchain technology.

Within hours, the criminal had returned part of the loot and then delivered the rest.

Photo REUTERS

In recognition,

Poly Network decided to hire "white hat" as a security advisor

, in addition to establishing a rewards program for consultants and programmers to discover more security flaws on its platform.

As if to make a clean slate, they reported that

the vulnerabilities

that allowed the theft of cryptocurrencies

have already been patched

.

High risks

Scams in this sector are becoming more and more frequent

.

At the end of April, crypto thefts, hacks and fraud totaled about $ 432 million, according to an analysis by

CipherTrace

.

One major case features Turkish cryptocurrency exchange Thodex, which abruptly stopped its operations in April.

Although the service indicated that "there was no need to worry", there were 391,000 users and between 2 and 10 billion dollars under the magnifying glass.

In addition, the CEO of the company

left the country and ended up with an international arrest warrant.

A few days later, the Turkish police arrested 62 people in the framework of the investigation into a possible scam that exchange.

Thodex, founded under this name in 2019, was one of the most important cryptocurrency exchanges in Turkey, with a transaction volume of around 700 million dollars a day in currencies such as Bitcoin, Dogecoin or Holo, before its final closure.

SL

Look also

Up to $ 600 Million Stolen in Record Hit to Crypto World

How to make money on TikTok: the requirements that influencers ask

Source: clarin

All tech articles on 2021-08-24

You may like

Trends 24h

Latest

© Communities 2019 - Privacy

The information on this site is from external sources that are not under our control.
The inclusion of any links does not necessarily imply a recommendation or endorse the views expressed within them.