Poly Network hacker rejects $500,000 bounty for return of funds

Poly Network hacker rejects $500,000 bounty for return of funds

The developers of the Chinese cross-chain protocol Poly Network offered the hacker who stole $611 million a $500,000 bounty for returning the funds. The hacker declined the bounty. Tom Robinson, founder of analytics firm Elliptic, said this.

The Poly Network hacker is now saying that they were offered a $500k bounty to return the stolen assets — but that they will not be claiming it pic.twitter.com/Dqp2ZhSO47

— Tom Robinson (@tomrobin) August 12, 2021

In a statement, Poly Network representatives thanked the hacker for ‘help in improving the security of the project’ and expressed hope that he would contribute to the further development of blockchain.

The hacker did not take the bounty, but called for donations from the public for doing the right thing.

As of writing, $4,780 in various tokens had been sent to the hacker’s wallet.

Earlier in August, the Poly Network protocol suffered the largest attack in history attack on the blockchains Ethereum, Binance Smart Chain and Polygon. The total loss amounted to $611 million in various cryptocurrencies. Some of the stolen funds in USDT were blocked.

On August 11 the hacker stated the intention to return the funds. He told the project team all stolen assets except for $33 million in USDT, which Tether froze after the attack.

Experts suggested that one reason for returning the funds was that the hacker exposed personal data. However, he explained his actions by saying that he hacks ‘for fun’ and wanted to protect the project from an insider exploiting the same flaw to steal funds.

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