Hacker behind $610 million crypto hack conducts AMA — claims returning the money was always ‘a part of the plan’

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Hacker behind $610 million crypto hack conducts AMA — claims returning the money was always ‘a part of the plan’
Saints of CryptocurrencyBusiness Insider
  • The hacker behind the $611 million crypto hack of the Poly Network was “forced to play the game.”
  • According to him, the plan was always to return the money but not before the platform’s bugs came into the limelight.
  • So far, less than half of the stolen money has been returned.
The hacker behind the largest decentralised finance (DeFi) breach yet, claims he only stole $610 million worth of cryptocurrencies for the greater good and not because they’re “evil.”

When spotting the bug, I had a mixed feeling [sic]. Ask yourself what to do had you [been] facing so much fortune [sic]. Asking the project team politely, so that they can fix it? Anyone could be the traitor given one billion! I can trust nobody!

Poly Network hacker’s Q&A statement

The mysterious entity, whose real identity is still unknown, stole Ethereum, Binance Smart Chain, and Polygon tokens from the Poly Network on August 10. The platform allows users to exchange one cryptocurrency for another across different blockchains.

Once the hack was discovered, the Poly Network — with help from a cybersecurity firm called SlowMist — was able to track down the attacker's IP address. However, according to the perpetrator, the IP address is only temporary.
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Regardless, it did lead to them returning the stolen money. Albeit, in installments.

Why did the hacker attack the Poly Network?



The person behind the breach shared a three-page ‘ask me anything’ (AMA) on the Ethereum blockchain, where he seems to have conducted a self-interview of the incident.
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“Cross chain hacking is hot,” they replied to the question on why the Poly Network was chosen as the target.

The hacker claims that he spent a good while looking for a vulnerability to exploit on the Poly Network. Once they spotted a bug, uncertain of whether they could trust anyone within the platform’s team, the attacker decided to take things into their own hands.

The AHA moment came just before I was about to give up. After debugging all night, I crafted a single message on the ontology network.

Poly Network hacker’s Q&A statement

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Why is the hacker returning the money?



The plan was never to keep the $611 million, according to the hacker. They only took the money fearing that the Poly Network would fix the bug secretly, without informing anyone.

Of course I knew there are fake DeFi coins, but I didn’t take it seriously since I had no plan [of] laundering them.

Poly Network hacker’s Q&A statement

And, leaving the vulnerability out there could leave funds open to other attacks by hackers who have no plans to return the money. “What if they patch the bug secretly without any notification,” the Poly Network exploiter, who hacks ‘for fun’, wrote in one of their responses.
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So far, $260 million is back in Poly Network’s coffers. Another $269 million in Ethereum and $84 million in Polygon is yet to make its way back but only after the attacker has a nice long chat with the Poly team.

I would like to give them [Poly Network] tips on how to secure their networks, so that they can be eligible to manage the billion [dollar] project in the future.

Poly Network hacker’s Q&A statement

The pending money is currently invested in stablecoins so that it can earn some interest and buy the hacker some time to negotiate.

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