Hacker Rewarded with $500,000 and a CSA Job by Poly Network

Lately, it has been a turbulence-filled time for Poly Networks. The company creates software to handle the exchange between different blockchains for cryptocurrencies and other commodities. 

The company announced last week, by leveraging its security weaknesses, that a fraudster took hundreds of millions of dollars off its network in digital tokens, worth $600 million (roughly Rs 4,462 crores). But the same company has offered a Chief Security Advisor job role plus a sum of $500,000 to the crypto hacker involved in the heist that reaped over $600 million (roughly Rs 4,462 crores) last week. 

The criminal has started handing back digital money – and at least $260m of tokens were repaid after Poly Network encouraged netizens, crypto-exchanges, and miners to disallow the transactions containing the wallet credentials of the criminal. The business claimed that they have maintained communication with the suspect, known as Mr. White Hat. 

It is believed to be the biggest crypto theft ever, overtaking the US$534.8 million in digital coins seized from the Japanese exchange Coincheck during a cyberattack in 2018 and the approximated $450 million bitcoin crypto theft from Tokyo exchange Mt. Gox in 2014. 

“It is important to reiterate that Poly Network has no intention of holding Mr. White Hat legally responsible, as we are confident that Mr. White Hat will promptly return full control of the assets to Poly Network and its users,” the organization said

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