One of the largest cryptocurrency heists was performed on Wednesday following the loss of over $600 million worth of crypto to unknown hackers.
The hacker stated they jokingly hacked the system of Poly Network, to “expose the vulnerability” in the blockchain site, and claimed not to be interested in the money stolen.
The hacker’s statement was shared by blockchain forensics company, Chainalysis, and crypto tracking firm, Elliptic. According to the report, they attempted the hack to prevent anyone from exploiting it.
The yet to be identified hacker stayed true to the statement, as the stolen cryptocurrencies, which included Ethereum, were gradually returned in small and large transfer sizes.
Analysis by Chainalysis and Elliptic stated that about $260 million worth of cryptocurrency has been returned to Poly Network – this follows a public message from the blockchain firm on Twitter.
Hours before the hacker refunded part of the stolen assets, Poly Network stated that the action will be viewed as a crime in several countries, so a clampdown will be melted out on the perpetrator.
Poly Network described the hack as one of the biggest in defi [decentralised finance] history, adding that, “Law enforcement in any country will regard this as a major economic crime and you will be pursued.
“The money you stole are from tens of thousands of crypto community members”, Poly Network said in the letter.
Join the conversation
SPECIAL REPORT: Displaced residents of Zamfara battle hunger, as underfunding derails Nigeria’s nutrition goals
On paper, Muhammad Zayyanu is seven years old. The quiet boy who looks shorter for his age could not recollect...
INVESTIGATION: N7.3bn paid for unnamed projects; how Nigerian govt spent N2.2trn in six months
Analysing nearly 3,000 payments made by various Federal Government Ministries, Departments and Agencies (MDAs) over the previous six months (January...
INVESTIGATION… Delay rocks Nigerian govt’s promise of N30,000 covid-19 relief for artisans, others
Before the outbreak of the COVID-19 pandemic in February, 2020, Chukwudi Okoroigwe’s daily earnings as a bus driver was hardly enough to cater to the...
INVESTIGATION… Ten years after, communities count losses as AfDB, Cross River govt abandon road project
Ten years after the Cross River State government and African Development Bank (AFDB) jointly awarded the Yahe-Wanokom-Wanikade-Benue border road for...
INVESTIGATION….N.3bn down the drain: Why water projects for Enugu communities don’t work
In this concluding part, ARINZE CHIJIOKE talks about some of the projects that are serving the people and how various WASH programmes have failed to tackle...