At the beginning of August, Poly Network was hacked, with the platform losing $610 million in tokens; this hack is known to be the largest in DeFi history. The hack had occurred because the insider noticed some flaws in the code of the platform, and used that to their advantage. They were able to move the loot into their accounts before the team behind Poly realized what had happened.
After the hack, Poly Network announced that the hacker had returned the loot in different batches, leaving $200 million in tokens still locked in an account that could only be accessed by the hacker.
Recently, the remaining amount was released to Poly Network after intense negotiation with the hacker.
Unlike the typical hacker, this one refused to make away with the loot, and leave the network dry. The intruder, who goes by the moniker, ‘Mr. White Hat’, initiated a discussion with the Poly team, with the promise that the loot would be released to the rightful owners. It is not surprising that the moniker was attached to the hacker because of their intent to return the funds. To some community members, the hack may have been a way of showing the ecosystem the loopholes that should not have existed in the first place.
Others believe that the hacker decided to return the funds because it was difficult to launder such a huge amount because of the transparency of blockchain transactions.
This is one of the weirdest hacks that have occurred in the cryptocurrency world because the hacker continued to discuss with the victims and kept to their promise of returning the funds and the private keys.
