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'Mr.  White Hat Pays Stolen Cryptocurrencies After ...

‘Mr. White Hat Pays Stolen Cryptocurrencies After …

A hitherto unknown hacker managed to steal a record amount of about $613 million (€520 million) in cryptocurrency from exchange platform Poly Network on Tuesday. After pleading on Twitter, “Mr. White Hat” returned the stolen virtual property, bit by bit, to the company.

On August 10, an eye-catching message appeared on the Twitter account of Poly Network, a platform where users can exchange cryptocurrency with each other. “Dear Hacker, The Poly Network team would like to contact you and urge you to return the stolen funds,” the statement read.

The letter also stated that it was the highest amount ever stolen in the history of the world of “decentralized finance” (cryptocurrencies, which are not under the control of central banks).

“Every country considers what you did a serious economic crime and you will be prosecuted for certain. The money you stole belongs to tens of thousands of ordinary people. You should contact us to find a solution.”

And this initiative paid off, although the hacker claims that he always intended to repay the stolen money. “I have already announced this decision before midnight, so that anyone who believes in me can sleep peacefully that night (emoji).”

It is one of the many messages that the hacker hid in the transaction documents and used to return part of the funds to the platform. The most successful cryptocurrency hacker ever responded “just for fun” when asked why he or she attacked the Poly Network.

An “ethical hacker” – white hat in English – happened to have stumbled upon a vulnerability in the computer code that controls transactions from one cryptocurrency to another. In his own words, ‘Mr. White Hat’ just to report this vulnerability. In the end, there was a fear that the Polly Network employee would use tipping to steal himself. In addition, the hacker wanted the company to actually feel the warning to learn from him.

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Poly Network has had scary days, but in the meantime, the lion’s share of the stolen money has been returned to the company. On Twitter, Poly Network states that “the integrity of acquired property is Damocles’ sword that hangs above the crypto world.”