Poly Network had just been hacked and his crypto money was taken by hacker worth more than US$600 million. Instead of solving it legally, the cryptocurrency platform even invited the perpetrators behind the incident to become company advisers.
It did not stop there, Poly Network also promised to give a reward of US $ 500 thousand for the recovery of user funds.
“Expressing our gratitude and encouraging Mr White Hat to continue to contribute to the advancement of security in the Blockchain world together with Poly Network, we cordially invite Mr White Hat to be Poly Network’s Chief Security Advisor,” said Poly Network. 18/8/2021).
Previously, Poly Network offered a bounty to hackers amounting to US$500,000, but it was turned down. But on a digital currency transaction on Monday (16/8/2021), the perpetrator said “I am considering taking a bounty as a bonus for public hackers if they can hack the Poly Network”.
Poly Network is also open voice about this matter. The company respects that thought, and continues to express its desire to provide the same amount of gifts at Mr White Hat’s approved wallet addresses.
“We fully respect Mr White Hat’s thoughts. And express our gratitude, we will still be sending this US$500,000 gift to Mr White Hat’s approved wallet address. To be used at his sole discretion for cybersecurity and to support more projects and individuals ,” said PolyNetwork.
No Legal Remedies
The startup also stated that it had no intention of holding Mr White Hat legally responsible for his actions.
For your information Mr White Hat is a reference to ethical hackers looking for vulnerabilities and organizational systems that could make them vulnerable to attack. Security researchers question the labeling of Poly Network attackers as White Hat hackers.
The Poly Network hack is considered the biggest cryptocurrency theft of all time. The perpetrators also did something unusual by returning most of the stolen money.
But more than US$200 million in funds is currently locked in accounts that require passwords from Poly Network and hackers to gain access. The reason for the move is unclear, but an anonymous person claiming to be the hacker said they would give away the key when ‘everyone’s ready’.