Hackers return nearly half of the $600 million they stole in one of the biggest crypto heists

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Hackers return nearly half of the $600 million they stole in one of the biggest crypto heists

CNBC2021-08-12

KEY POINTS More than $600 million was stolen in what is likely to be one of the biggest cryptocurrency thefts ever. Hackers exploited a vulnerability in Poly Network, a platform that looks to connect...

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Atwosome
·2021-08-12
Robinhood
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- Limpek:
  Steal10 chickens and return 5 chickens. Robinhood??
  2021-08-12
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- Atwosome:
  ?
  2021-08-12
  Reply
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- shauncj:
  Awesome
  2021-08-12
  Reply
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Bull1973
·2021-08-12
?
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3
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PeggyOng
·2021-08-12
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- Jackosen:
  ok
  2021-08-12
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CYLiew
·2021-08-12
Wow. Like that also can
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Philipoo
·2021-08-12
Oh no
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Each digital coin has its own blockchain and they're different from each other. Poly Network claims to be able to make these various blockchains work with each other.\nPoly Network is a decentralized finance platform. DeFi is a broad term encompassing financial applications based on blockchain technology that looks to cut out intermediaries — such as brokerages and exchanges. Hence, it’s dubbed decentralized.\nProponents say this can make financial applications such as lending or borrowing more efficient and cheaper.\n“The amount of money you hacked is the biggest in defi history,” Poly Network said in atweet.\nHackers start to return the funds\nIn a strange turn of events Wednesday, the hackers began returning some of the funds they stole.\nThey sent a message to Poly Network embedded in a cryptocurrency transaction saying they were “ready to return” the funds. The DeFi platform responded requesting the money be sent to three crypto addresses.\nAs of 7 a.m. London time, more than $4.8 million had been returned to the Poly Network addresses. By 11 a.m. ET, about $258 million had been sent back.\n“I think this demonstrates that even if you can steal cryptoassets, laundering them and cashing out is extremely difficult, due to the transparency of the blockchain and the use of blockchain analytics,” Tom Robinson, chief scientist of blockchain analytics firm Elliptic, said via email.\n“In this case the hacker concluded that the safest option was just to return the stolen assets.”\nOnce the hackers stole the money, they began to send it to various other cryptocurrency addresses. Researchers at security company SlowMist said a total of more than $610 million worth of cryptocurrency was transferred to three addresses.\nSlowMist said in a tweet that its researchers had “grasped the attacker’s mailbox, IP, and device fingerprints” and are “tracking possible identity clues related to the Poly Network attacker.”\nThe researchers concluded that the theft was “likely to be a long-planned, organized and prepared attack.”\nPoly Network urged cryptocurrency exchanges to “blacklist tokens” coming from the addresses that were linked to the hackers.\nAbout $33 million of Tether that was part of the theft has been frozen,according to the stablecoin’s issuer.\nChangpeng Zhao, CEO of major cryptocurrency exchange Binance, said he was aware of the attack.\nHe said Binance is “coordinating with all our security partners to proactively help,” but that “there are no guarantees.”\n“We will take legal actions and we urge the hackers to return the assets,” Poly Network said on Twitter.\nDeFi hacks on the rise\nDeFi has become a key target for attacks.\nSince the start of the year until July, DeFi-related hacks totaled $361 million — an increase of nearly three times from all of 2020, according to cryptocurrency compliance company CipherTrace.\nDeFi-related fraud is also on the rise. In the first seven months of the year, it accounted for 54% of total crypto fraud volume versus 3% for all of last year.","kind":null,"is_publish_news":false,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[{"id":895181809,"gmtCreate":1628728585901,"gmtModify":1676529832890,"author":{"id":"3571305152732730","authorId":"3571305152732730","authorIdStr":"3571305152732730","name":"Atwosome","avatar":"https://static.tigerbbs.com/2085a92415ef32924f70d916d490adce","vip":1,"hat":"https://static.tigerbbs.com/b0a2963eb37c60c5d6d4a8dbcd266952","crmLevel":8,"crmLevelSwitch":1,"idStr":"3571305152732730"},"htmlText":"Robinhood&nbsp;","listText":"Robinhood&nbsp;","text":"Robinhood","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":3,"repostSize":0,"link":"https://ttm.financial/post/895181809","repostId":1160321743,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":5501368,"gmtCreate":1628733124956,"gmtModify":1663232260027,"authorId":3585026211789841,"author":{"id":3585026211789841,"authorId":3585026211789841,"name":"Limpek","avatar":"https://static.tigerbbs.com/e38d5e6a0aa567606fd0fd668de77588","vip":1,"crmLevel":1,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":895181809,"type":1,"supId":0,"prevId":0,"content":"Steal10 chickens and return 5 chickens. Robinhood??","text":"Steal10 chickens and return 5 chickens. Robinhood??","html":"Steal10 chickens and return 5 chickens. 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Like that also can","listText":"Wow. Like that also can","text":"Wow. Like that also can","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/895136188","repostId":1160321743,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":895104667,"gmtCreate":1628727187759,"gmtModify":1676529831979,"author":{"id":"4087525706477120","authorId":"4087525706477120","authorIdStr":"4087525706477120","name":"Philipoo","avatar":"https://static.tigerbbs.com/6e8a19c2e2e38459c077e596babeb0d6","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"4087525706477120"},"htmlText":"Oh no","listText":"Oh no","text":"Oh no","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/895104667","repostId":1160321743,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"}],"hasMoreComments":true,"newsSizeData":{"likeSize":36,"commentSize":5,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false}}