{"id":47684,"date":"2021-08-13T19:24:59","date_gmt":"2021-08-13T16:24:59","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=47684"},"modified":"2025-09-01T22:33:10","modified_gmt":"2025-09-01T19:33:10","slug":"poly-network-unveils-plan-to-reimburse-users-after-breach","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/poly-network-unveils-plan-to-reimburse-users-after-breach\/","title":{"rendered":"Poly Network unveils plan to reimburse users after breach"},"content":{"rendered":"<p>Poly Network developers <a href=\\\"https:\/\/twitter.com\/PolyNetwork2\/status\/1426204392911343622?s=20\\\" target=\\\"_blank\\\" rel=\\\"noopener\\\">published a roadmap for reimbursements<\/a> for customers affected by the recent breach.<\/p>\n<p>Currently about $238 million of stolen funds are held in the <a href=\\\"https:\/\/etherscan.io\/address\/0x34d6b21d7b773225a102b382815e00ad876e23c2#tokentxns\\\" target=\\\"_blank\\\" rel=\\\"noopener\\\">multisig wallet<\/a>. Access to them requires keys, among those held by the hacker. The company continues negotiations with the attacker.<\/p>\n<blockquote class=\\\"twitter-tweet\\\">\n<p dir=\\\"ltr\\\" lang=\\\"en\\\">As our communication with Mr. White Hat is going on, the remaining user assets on Ethereum are gradually transfered to the multisig wallet (0x34D6B21D7B773225A102b382815e00Ad876E23C2) requested by Mr. White Hat. <a href=\\\"https:\/\/t.co\/FdSfJ6ZIUt\\\">pic.twitter.com\/FdSfJ6ZIUt<\/a><\/p>\n<p>\u2014 Poly Network (@PolyNetwork2) <a href=\\\"https:\/\/twitter.com\/PolyNetwork2\/status\/1425820218182438936?ref_src=twsrc%5Etfw\\\">August 12, 2021<\/a><\/p>\n<\/blockquote>\n<p><script async=\\\"\\\" src=\\\"https:\/\/platform.twitter.com\/widgets.js\\\" charset=\\\"utf-8\\\"><\/script><\/p>\n<p>A further approximately $33 million in USDT is frozen by Tether, with which Poly Network is also discussing further actions.<\/p>\n<p>Restoring the platform&#8217;s functionality has been split into three stages.<\/p>\n<p>In the first phase, the project team fixed the vulnerability identified by the hacker. A code audit is ongoing with several cybersecurity teams. Going forward, Poly Network plans to launch a global bug-bounty program to identify bugs in the protocol&#8217;s core functions.<\/p>\n<p>The next step will be updating the mainnet.<\/p>\n<blockquote>\n<p>\u201cFor security reasons, we will delay enabling the expanded functionality, launching only the core cross-chain functions,\u201d the company noted.<\/p>\n<\/blockquote>\n<p>After the audit, developers will proceed to restore cross-chain functionality.<\/p>\n<p>In August, the Poly Network protocol suffered the largest <a href=\"https:\/\/forklog.com\/en\/news\/hackers-stole-611-million-from-the-poly-network-cross-chain-protocol\">attack<\/a> in the history of the industry on the blockchains Ethereum, Binance Smart Chain and Polygon. The total loss stood at $611 million in various cryptocurrencies. A portion of the stolen funds in USDT was blocked.<\/p>\n<p>On August 11, the hacker announced <a href=\"https:\/\/forklog.com\/en\/news\/hacker-who-stole-611-million-from-poly-network-begins-returning-funds\">an intention to return the funds<\/a>. He transferred to the project team <a href=\"https:\/\/forklog.com\/en\/news\/poly-network-hacker-returns-all-stolen-funds-except-usdt\">all stolen assets<\/a>, except for $33 million in USDT that Tether froze after the attack.<\/p>\n<p>Poly Network developers <a href=\"https:\/\/forklog.com\/en\/news\/poly-network-hacker-rejects-500000-bounty-for-return-of-funds\">proposed to the hacker $500 000<\/a> as a reward for returning the funds, but he declined.<\/p>\n<p>Subscribe to ForkLog news on Telegram: <a href=\\\"https:\/\/t.me\/forklogfeed\\\" target=\\\"_blank\\\" rel=\\\"nofollow noopener\\\">ForkLog Feed<\/a> \u2014 all the news, <a href=\\\"https:\/\/telegram.me\/forklog\\\" target=\\\"_blank\\\" rel=\\\"nofollow noopener\\\">ForkLog<\/a> \u2014 the most important news, infographics and opinions.<\/p>\n<p><script async=\\\"\\\" src=\\\"https:\/\/platform.twitter.com\/widgets.js\\\" charset=\\\"utf-8\\\"><\/script><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Poly Network developers published a roadmap for reimbursing users affected by the recent breach.<\/p>\n","protected":false},"author":1,"featured_media":47685,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1154,2231],"class_list":["post-47684","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-crimes","tag-poly-network"],"aioseo_notices":[],"amp_enabled":true,"views":"35","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/47684","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=47684"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/47684\/revisions"}],"predecessor-version":[{"id":47686,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/47684\/revisions\/47686"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/47685"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=47684"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=47684"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=47684"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}