London’s High Court is ordering major crypto exchange Binance to track down and freeze the accounts of crypto hackers behind an alleged $2.6-million security breach. The order, which was made public last week, grants the requests by artificial intelligence (AI) company Fetch.ai for Binance to find and freeze the allegedly stolen assets. Fetch.ai claims that […]
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On Friday, a few days after the initial hack for $611 million, the Poly Network project detailed that the company has obtained all the assets stolen minus the frozen tether that was blacklisted by Tether Limited. The Poly Network team said they are in control of the funds along with “Mr. White Hat,” but the […]
Two days after the notorious Poly Network hack, the hacker continues to send funds back to the project. On August 12, the Poly Network hacker so far has returned millions worth of ether, thousands of uni tokens, 1,032 wrapped bitcoins, and 96 million in stablecoins. The day prior, after returning $260 million in tokens, the […]
On August 11, the blockchain intelligence firm Chainalysis published its findings on the recent Poly Network hack which saw the loss of approximately $611 million crypto tokens. The assessment from Chainalysis backed up the claims made by the security company called Slowmist that shows the hacker left a fingerprint on the relatively unknown exchange Hoo.com. […]
The returned sum represents only a minor portion of the over $600 million stolen from Poly Network.
These transfers have occurred across the three wallets associated with the Poly Network hacker across the Ethereum, Binance Smart Chain (BSC) and Polygon networks. Poly Network confirmed receipt of the returned funds via a tweet issued on Tuesday.
Details from Etherscan show that $2 million worth of Shiba Inu (SHIB) and $616,000 in Fei USD (FEI) tokens are being returned.
So far, we have received a total value of $4,772,297.675 assets returned by the hacker.
— Poly Network (@PolyNetwork2) August 11, 2021
ETH address: $2,654,946.051
BSC address: $1,107,870.815
Polygon address: $1,009,480.809 pic.twitter.com/bPFAQk4mvS
Data from BscScan also shows the hacker returning 23.88 Binance-peg Bitcoin (BTCB) to the Poly Network. As of the time of writing, the “coins” are worth a little over $1 million. The hacker’s BSC wallet still shows outgoing transactions for USD Coin (USDC) and Binance USD (BUSD), but these do not amount to a significant figure.
From the attacker’s Polygon wallet address, there has been a refund of $1,010,100 USD sent in three transactions — $10, $100 and $1 million, respectively.
In total, the hacker has returned $4.6 million, which is less than 1% of the over $600 million drained from Poly Network in the hack.
The hacker still holds about $500 million worth of tokens with the bulk of the sum held in Ether (ETH), including Binance-pegged ETH, and wrapped Bitcoin (WBTC) on both BSC and Ethereum chains, as well as Dai (DAI) and USDC stablecoins.
Related: Hackers stole at least $600M in Poly exploit across three chains
As previously reported by Cointelegraph, the Poly Network attack is the largest decentralized finance (DeFi) hack to date, taking the total value of thefts in the market segment to over $1.1 billion in 2021, almost 10 times the total losses recorded in 2020.
Indeed, since the latter half of 2020, DeFi has been contributing a greater share of crypto thefts amid a decline in centralized exchange hacking incidents.
On Tuesday, the decentralized finance (defi) project Poly Network was hacked for over $600 million in digital assets. The attack was the largest defi hack to date eclipsing all of 2021’s defi hacks combined. The very next day, however, the hacker started to send funds back to the Poly Network team as the project’s official […]
On August 10, the decentralized finance (defi) project Poly Network suffered a loss of over $600 million according to various reports. The hack follows a recent Ciphertrace report on how defi-related hacks and fraud in 2021 have already surpassed 2020. The Poly Network hack on Tuesday is well above the entire year’s worth of defi […]
Reports from the decentralized finance project Rari Capital detail that the protocol’s ethereum pool has experienced a recent exploit. Rari Capital says they are assessing the situation and the team removed funds from the recent Alpha Finance Lab integration. At first, the project’s team revealed they were assessing the hack, but later estimates assume the […]
