LONDON, ENGLAND - DECEMBER 07: A visual representation of the digital Cryptocurrency, Bitcoin on December 07, 2017 in London, England. Cryptocurrencies including Bitcoin, Ethereum, and Lightcoin have seen unprecedented growth in 2017, despite remaining extremely volatile. While digital currencies across the board have divided opinion between financial institutions, and now have a market cap of around 175 Billion USD, the crypto sector coninues to grow, as it continues to see wider mainstreem adoption. The price of one Bitcoin passed 15,000 USD across many exchanges today taking it higher than previous all time highs. (Photo by Dan Kitwood/Getty Images)
The hacker behind the Poly Network cryptocurrency heist has returned more than half of all the stolen digital coins.
Poly Network, a platform that allows users to exchange crypto tokens, in a series of tweets on its official Twitter account on Thursday said the hacker will return all the stolen cryptos.
The hack, believed to be one of the biggest crypto heists, swept $610 million worth of cryptocurrencies in a single security breach.
On Tuesday, Poly Network had said the hackers breached its security and stole crypto belonging to thousands of investors.
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TheCable reported that the stolen digital currency comprises $273 million on the Ethereum blockchain, $253 million on the Binance Smart Chain and $85 million in U.S. Dollar Coin (USDC) tokens on the Polygon network.
On Thursday morning, the cryptocurrency platform said the hacker is cooperating and in the process of returning the stolen digital currency.
“$342 million (As of 12 Aug 08:18:29 AM +UTC) of assets had been returned,” it tweeted.
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“Ethereum: $4.6M BSC: $252M Polygon: $85M. The remaining is $268M on Ethereum.”
It simply identified the hacker as Mr White Hat and warned of speculation that may jeopardise the recovery process.
A white hat is an ethical hacker, according to Norton, an anti-malware software firm. The individual uses hacking skills to identify security vulnerabilities in hardware, software or networks. The individual exploits security breaches when they are legally permitted to do so.
By evening, Poly Network said the hacker had transferred the remaining assets on Ethereum to a wallet.
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“All the remaining user assets on Ethereum (except for the frozen USDT) had been transferred to the multisig wallet controlled by Mr White Hat and Poly Network,” Poly Network said in a statement.
“The repayment process has not yet been completed. To ensure the safe recovery of user assets, we hope to maintain communication with Mr White Hat and convey accurate information to the public.
“Any unfounded allegations and speculation may damage the extremely important process of asset recovery.
“To achieve the goal of full recovery of both assets and cross-chain services, the team will continue to communicate with Mr White Hat actively to receive the final key.”
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