Crypto Hacker Returns Most of $600 Million Stolen in Ethereum and Other Tokens
In a weird turn of events, a hacker who had stolen about $600 million in tokens from different cryptocurrencies including Ethereum, has returned the biggest portion of the funds.
A number of crypto experts and businesses have vowed to keep tabs on the suspect’s crypto activity. Still, the hacker’s identity and method he or she used to steal, are still shrouded in mystery.
Based on transactions available to the public, an address linked to Poly’s hacker began returning the funds early Wednesday.
As we speak, Poly has been able to retrieve about $267 million worth of ether, and $252 million of binance coins. Another $55 million in tokens attached to the U.S. dollar has also been returned.
The hack, which occurred on Tuesday, is certainly one of the biggest heists that’s ever happened in the cryptocurrency world.
It actually surpassed the $460 million hack that happened on Mt.Gox crypto exchange, which led to the firm going bankrupt.
This hack, which happened nearly seven years ago, is the reason why regulations were increased in the nascent space.
Poly requested crypto miners to keep an eye out for tokens being sent through the hacker’s addresses, and many complied with the request.
Slow-Mist, a blockchain security firm situated in China, stated that it’s managed to identify the hacker’s IP address, email, and device fingerprints.
However, it’s still tracking the hacker’s activity to try and gather more information. SlowMist revealed that the attacker exploited a loophole in Poly’s smart contracts, which allowed him or her to get the funds.
But some crypto experts beg to differ. BlockSec, a security auditor, suspects that the attacker somehow got a hold of Poly’s private key, which he then used to carry out the transactions.