Over Half of Crypto Tokens Stolen In $ 610 Million Hack Returned, Poly Network Says | Technology news

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LONDON (Reuters) – Hackers behind one of the biggest digital coin heists have now returned more than half of the $ 610 million and more they stole, the crypto platform said on Thursday. currency targeted by hacking.

Poly Network, a platform that facilitates peer-to-peer transactions, said on Twitter https://twitter.com/PolyNetwork2/status/1425733950614360064 that at 0818 GMT, hackers had returned $ 342 million of foreign currency stolen.

Some $ 268 million in tokens are still in circulation, he said.

Poly Network, which allows users to transfer or exchange tokens on different blockchains, said on Tuesday it had been hit by cyberheists, urging the culprits to return the stolen funds.

The theft illustrated the risks of the largely unregulated decentralized finance (DeFi) sector. DeFi platforms allow users to transact, usually in cryptocurrency, without traditional gatekeepers such as banks or exchanges.

The Poly Network hacker (s), who have not been identified, began returning the stolen coins on Wednesday. Blockchain analysts said they might have found it too difficult to launder stolen cryptocurrency on such a scale.

Poly Network sent Reuters a copy of its tweet in response to a request for more details on the latest comeback.

He did not immediately respond to questions about his location or the involvement of a law enforcement agency. According to crypto website CoinDesk, Poly Network was started by the founders of the Chinese blockchain project Neo.

(Reporting by Tom Wilson; Editing by Mark Potter)

Copyright 2021 Thomson Reuters.

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