Hackers Return Nearly Half of $ 600 Million Stolen From Biggest Crypto Heist

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Hackers have returned nearly half of the $ 600 million they stole in what is arguably one of the biggest cryptocurrency thefts of all time. From a report: Cybercriminals have exploited a vulnerability in Poly Network, a platform that seeks to connect different blockchains so that they can work together. Poly Network disclosed the attack on Tuesday and asked to establish communication with the hackers, urging them to “return the pirated assets.”

A blockchain is a register of activities on which various cryptocurrencies are based. Each digital coin has its own blockchain and they are different from each other. Poly Network claims to be able to make these different blockchains work with each other. Poly Network is a decentralized financial platform. DeFi is a broad term encompassing financial applications based on blockchain technology that seeks to weed out middlemen – such as brokerage houses and stock exchanges. Hence, it is nicknamed decentralized. Proponents say it can make financial applications like lending or borrowing more efficient and cheaper. “The amount of money you hacked is the largest in the history of the challenge,” Poly Network said in a tweet. On Wednesday, in a strange turn of events, the hackers began returning some of the funds they had stolen. They sent a message to Poly Network embedded in a cryptocurrency transaction saying they were “ready to return” the funds. The DeFi platform responded by requesting that the money be sent to three crypto addresses. As of 7 a.m. London time, more than $ 4.8 million had been returned to Poly Network addresses. As of 11 a.m. ET, approximately $ 258 million had been returned.

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