Hackers returns huge money stolen in biggest crypto heist

coin-investor

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Quote from: cabron on August 11, 2021, 08:29:56 PM

Why should Poly just threaten police involvement? They should just do it if they are really violated after all the cybersecurity they hired had traced the culprit and found his IP and email. It shouldn't be difficult in having the authorities come.

However, if they are going to successfully scare the hacker by making him return all that he got, this is going to be a successful marketing promotion for the SlowMist security firm.

Thye are good at hacking but they don't have a criminal mind, criminals have an escape route that they will follow and they are willing to die just to execute their criminal activities, this is a big difference between them and bank robbers, they carry a gun and willing to kill and be killed, these hackers for all we know are working in a big corporation and they don't want to tarnish their reputation so they returned their loot.

lumierre

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Talking about a hacker of polynetwork, I consider him to be rather Robin Hood than a scammer.He has already returned the whole sum of money. It was the biggest hack ever, but the hacker wasn’t interested in money. He just wanted to point out the vulnerability for devs to fix it. And I hope that developers will mend their smart-contract. I think that it is a very unusual case that will go down in history.

btcltcdigger

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To boldly go where no rabbit has gone before...

Afaik he's not malicious, nor was his intent.
He wanted to try something and succeeded. We need more people like him in crypto space TBH

LongStand

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THIS NEWS VERY SURPRISE ME WHEN I HEAR THAT Hackers FIRST Ready TO RETURN HALF MONEY THEY STOLEN AND THEN READY TO RETURN all. if they not needed money then what is purpose of stealing money.
government does not want that crypto is legal , but one day crypto will use in our trading system and those countries which accept crypto first will make their people wealthy

TravelMug

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Quote from: Bitstar_coin on August 13, 2021, 09:50:04 PM

Still a good gesture on the part of the hacker even though it was wrong to engage in such activities in the first place, it is a relief to hear such news, at least part of the stolen funds have been returned and hopefully the rest part of the funds will be returned as well, perhaps now the team will work towards increasing the security to prevent any further future attacks.

Lol, what do you mean a good gestures, he/she/they will be caught sooner or later because they left a trail that the authorities can track and identify them because they made one big mistakes.

So this is still stealing with large amount of money and they will still be prosecuted if caught and possible jail time, it won't reduce the sentences just because they are returning the money here. There's no good gestures on them, they can't even spend that money because blockchain analysis are all watching if they decided to move it and for sure will be followed.

The team doesn't need their project to be hack to heighten their security. That should be their priority and any other projects out there.

Bitstar_coin

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Still a good gesture on the part of the hacker even though it was wrong to engage in such activities in the first place, it is a relief to hear such news, at least part of the stolen funds have been returned and hopefully the rest part of the funds will be returned as well, perhaps now the team will work towards increasing the security to prevent any further future attacks.

cabron

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Quote from: HardCore12V on August 13, 2021, 02:21:40 AM

Quote from: cabron on August 12, 2021, 11:16:19 PM

The hacker had nearly returned all said the cointelegraph article here https://cointelegraph.com/news/poly-network-hacker-returns-nearly-all-funds-refuses-500k-white-hat-bounty

But refuses to send $500K for seeing it as a reward for him exposing the vulnerability of this Defi platform. It kind of makes sense actually but he should just ask the team who developed it and let them decide how much they'd give to him. The team didn't said anything about the bounty lol

He really want to walk away freely without having a wanted tag on his head, that's a cool move I thought he messed up while doing the hack that's why he decided to return the fund, nice one

He messed up in a way because if he weren't traced which he was identified. If he wasn't traced, he may actually not return the funds believe it or not his situation could get worse if he had not responded to the call. We have seen hackers locked up for intruding on someone else system, it's a criminal offense.

But we have not really seen some reports about the hack. Publicity for Polynetwork I guess.

odukoyaewatomi27

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Cryptocurrency hacks like this are so much and millions of dollars worth of cryptocurrencies are stolen yeah from both small malware hacks to big elaborate hacks and security breaches. In this case, i doubt the team's threat of police involvement had anything to do with money that was returned because as a hacker, you are always prepared that police and the FBI could get involved.
I believe its just the hackers doing what they like because they have all the power to do so.

pawanjain

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Quote from: Trojane on August 11, 2021, 07:26:53 PM

Poly network had put out a plea for the stolen etherium,binancechain and oxpolygon.
Poly network fired off a tweet saying it had recieved $4.8 million worth of the stolen assets back,hoping for more from online heist potentially valued at bout $600 million.
It was certain that the amount that was stolen was the biggest in the crypto forum to have been taken.The return of the cyber loot was maybe as a result of some security personnels scrutinising tracking the theft.Blockchain system defense firm slowmist valued the poly network heist at more than $610 million and put out words to the hackers trail..
Poly Network threatened police involvement, but also offered the hackers the chance to "work out a solution." The most shocking part was that the US Department of Justice and FBI did not respond to requests for comment.
Its very obvious that the confederation is not in support of crypto as much as the sovereign states .
And i keep asking everyday,.
What is thier point of view?
How are these people looking at crypto?
Don't they believe that maybe,someday,the world market will depend on crypto's?

There can be any reason why the hackers returned the crypto to Poly network. I can think of a few of them

1. They may be finding it really hard to cashout the coins altogether or may be they don't want any kind of trouble from security agencies or FBI
2. May be the hackers are involved in the crypto community and don't want users to spread FUD about the hack
3. May be the hackers wanted to prove their point to someone
4. May be it was a planned promotion or some kind of advertising medium

The reason could be anything but the thing to note here is that one mistake can lead to loss of all your funds.
So every individual has to play safe and know where they are storing their funds to avoid losing money in such hacks.

jcojci

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Quote from: evichi on August 13, 2021, 07:50:08 AM

it is a lesson to Poly Network and other platforms holding people funds. Security should be taken seriously both internally and externally. More so when the platform is centralized. Crypto world may not have thrived up to this extent if not for the various security measures to safeguard funds ranging from wallets to exchanges. Hope to get more info as regards why these hackers penetrated the Poly network platform.

Not just Poly Network, but it is for all of the projects. Security is the most important thing they must take care of because once they are online, they can be the next target from the hacker. They are still lucky if we can say, because they met a good hacker who wants to return the money to them. I guess this will not stop here as many other projects can be the next target so if they do not seriously check their platform, they could get hacked and regret it.

evichi

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it is a lesson to Poly Network and other platforms holding people funds. Security should be taken seriously both internally and externally. More so when the platform is centralized. Crypto world may not have thrived up to this extent if not for the various security measures to safeguard funds ranging from wallets to exchanges. Hope to get more info as regards why these hackers penetrated the Poly network platform.

MSN02

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This whole thing is just a mess. Poly should have a better, more secure product. This should be a lesson for them, hopefully they can learn and grow from it but we’ll see. This is why I use NEAR because it’s secure so shit like this will never happen.

bitkanu

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Quote from: zulfi125 on August 12, 2021, 12:14:47 PM

Hackers never return hacked funds, I think maybe Poly network some team members involved in this hacking or the fear of investigation for hackers may returning the funds. so this is unbelievable if they returned $4.8 million.

that means if you didn't even watch the latest update from the poly's case. You need to get reliable information rather than try to create BS about that. The hacker already returned more than a half from the total funds. The hacker has returned more than it. it's around 260 millions USD already returned to the new hot wallet of poly network.
It seems like the hacker already threatened by so many people

john_nautica

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Just like what you have said it's one of the biggest crypto heist and for sure they are just really afraid that the NBI and other agency were really into them, even I would return that after they have tracked where the fund goes. I'm just curious if they're still going to jail even after they return it?

HardCore12V

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Quote from: cabron on August 12, 2021, 11:16:19 PM

The hacker had nearly returned all said the cointelegraph article here https://cointelegraph.com/news/poly-network-hacker-returns-nearly-all-funds-refuses-500k-white-hat-bounty

But refuses to send $500K for seeing it as a reward for him exposing the vulnerability of this Defi platform. It kind of makes sense actually but he should just ask the team who developed it and let them decide how much they'd give to him. The team didn't said anything about the bounty lol

He really want to walk away freely without having a wanted tag on his head, that's a cool move I thought he messed up while doing the hack that's why he decided to return the fund, nice one

RussianEnglishTranslation

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These bridges should be using the NEAR rainbow bridge. It's the most secure bridge in crypto.

ethereumhunter

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Quote from: zulfi125 on August 12, 2021, 12:14:47 PM

Hackers never return hacked funds, I think maybe Poly network some team members involved in this hacking or the fear of investigation for hackers may returning the funds. so this is unbelievable if they returned $4.8 million.

We do not know for sure about that but if those team members are involved in this hacking, someday people will see if what they did is not right. People will not try to invest in that project instead will cash out their money because they do not want to see that project scam them.

But I believe that some hackers are kind when they hack the target because they want to test the network and explain to the team that their site leaks. But all in all, it is good if Poly network can receive their money back from the hacker and their team needs to fix the problem.

cabron

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The hacker had nearly returned all said the cointelegraph article here https://cointelegraph.com/news/poly-network-hacker-returns-nearly-all-funds-refuses-500k-white-hat-bounty

But refuses to send $500K for seeing it as a reward for him exposing the vulnerability of this Defi platform. It kind of makes sense actually but he should just ask the team who developed it and let them decide how much they'd give to him. The team didn't said anything about the bounty lol

yazher

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Quote from: adzino on August 12, 2021, 11:53:09 AM

Lol the last thing the hacker would want to do is "make himself famous". He released several QAs in which he mentions that we doesn't want to expose himself (was concerned about his safety). Not sure why everyone over here is calling him childish. He did it for "fun". A challenge is fun for him. He said he did it to show others how vulnerable the network is. He had a good point too. If someone from inside knew about the bug, they could have easily exploit it. If he actually returns all the funds, we can confirm his intentions were never evil.

In such rare cases, we could say that he doesn't need the money nor any compliment from the people. You're right he just wants to prove something based on his speculations. Now that he already proved it, they need to fully re-develop their security and hire some great workers to do it for them. If they will stay vulnerable as they are now, they will lose some investors or their trust will dramatically subside in the coming months. Remember when Binance Exchange got hacked and they quickly managed to find a way to compensate their users, that's what they need right now.

cryptoaddictchie

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Quote from: Refrumatrix on August 12, 2021, 06:48:44 AM

To make himself famous? That's so unrealistic friend hackers stays away from been famous as far as possible, if it's a must they use nick names instead like anonymous, we don't know how anonymous are till date but we recognise them with their mask only, I think this hacker did some mistakes that will later lead to his arrest

Not really famous but to gain attention and seek recognition. Why do you think he is talking on his smart contract secret code message? Of course they used anonymous nickname (obviously) if you followed his story, then you understand what I meant. Yes he could be arrested if got caught. But I got a feeling instead of being arrested, he will be contacted by some hacker too or some firm to join and hire him as their core member. His skills are good but if he put it to good used Im sure he will be labeled as excellent white hacker.

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