Poly Network offers to on board ‘Mr. White Hat’ as chief security advisor

Poly Network offers to on board 'Mr. White Hat' as chief security advisor

Decentralized finance protocol Poly Network has made available the particular person behind a $610 million hack an advisory place and $500,000 — whether or not they like it or not. 

In a Tuesday update, the Poly Community crew said in a seeming try to attain access to hacker’s knowledge, it would be inviting them to the posture of chief safety advisor. In addition, the challenge will be sending a $500,000 bounty for the attacker, whom Poly dubbed ‘Mr. White Hat,’ inspite of the fact they have beforehand refused any payment.

“Poly Community has no intention of holding Mr. White Hat legally dependable, as we are self-assured that Mr. White Hat will immediately return complete handle of the assets to Poly Community and its end users,” mentioned the group. “As we have stated in former bulletins and encrypted messages that have been created public, we are grateful for Mr. White Hat’s superb contribution to Poly Network’s protection enhancements.”

The hack was claimed on Aug. 10, when analysts noted that roughly $610 million experienced been eradicated from the Polygon community, the Binance Good Chain, and Ethereum. The hacker subsequently communicated with the Poly Community workforce and other individuals by means of embedded messages in Ethereum transactions, agreeing to return the funds. Poly Community explained it established that the attack constituted “white hat behavior” and made available Mr. White Hat a $500,000 bounty.


The Poly Network group mentioned it was “counting on much more gurus like Mr. White Hat to be involved” in the future enhancement of the task, “since we think that we share the vision to develop a safe and sturdy distributed procedure.” The hacker returned all the money with the exception of $33 million in frozen Tether (USDT), but has not nevertheless turned over the vital to the multisig wallet Poly established up for the transfer.

It is a rather stunning change for the personal accountable for the biggest hack in DeFi to be offered a reward and a — presumably — paid position at the corporation which was the concentrate on of their assault. While the hacker’s identity has yet to be manufactured community, Chinese cybersecurity agency SlowMist posted an update soon right after information of the hack broke, stating its analysts experienced recognized the attacker’s e-mail address, IP address and system fingerprint.

“We are grateful for Mr. White Hat’s excellent contribution to Poly Network’s stability enhancements,” claimed the Poly Network. “While there ended up specific misunderstandings in the beginning due to very poor conversation channels, we now comprehend Mr. White Hat’s vision for Defi and the crypto planet, which is in line with Poly Network’s ambitions from the quite starting.”

Related: Poly Community hack exposes DeFi flaws, but community comes to the rescue

With the exception of 1000’s of buyers staying quickly not able to access their money, the situations of the very last 7 days feel to have experienced a net result of supplemental media attention about the Poly Network. Facts from Google shows fascination in the DeFi job reached an all-time substantial on Aug. 11 and is however perfectly previously mentioned what it experienced been since Poly introduced very last 12 months.

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