Earlier this month, Poly Network, a platform built to make cross-chain interactions possible, had a security flaw exploited by a hacker who stole $614m. This is the largest known hack in crypto so far and is not without an associated dramatic flare.
The hacker, known as “Mr. White Hat,” willingly returned most of the stolen funds, including $256m the day following the hack. Poly subsequently offered Mr. White Hat a position as their Chief Security Advisor, accompanied by an additional $500,000 in bounty, in return for identifying the security flaw.
At this time, Mr. White Hat remains in control of some $141m in Ethereum and Bitcoin, as well as $33m in Tether. The coins are currently locked away in a wallet, with Tether having frozen its share pending legal proceedings.
Poly Network has stated it “has no intention of holding Mr. White Hat legally responsible” for the hack.