The hacker, or hackers, exploited a flaw in Poly Network’s code that allowed the hacker to transfer $600 million to their own crypto wallets. All but $33 million have been returned, but more than $200 million is locked in an account that requires a password from Poly Network and the hacker to gain access, CNBC reported.
Poly Network pleaded with the hacker, known as “Mr. White Hat,” to provide the key to retrieve the funds. The hacker said they will provide the key when “everyone is ready.”
Poly Network promised the hacker $500,000 in bounty for returning the funds and invited the hacker to become its chief security adviser. The hacker turned down the bounty offer, but later sent a message saying they are reconsidering.
“To extend our thanks and encourage Mr. White Hat to continue contributing to security advancement in the blockchain world together with Poly Network, we cordially invite Mr. White Hat to be the Chief Security Advisor of Poly Network,” the firm said in a statement.
Poly Network said it “has no intention of holding Mr. White Hat legally responsible” for the hack.
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