The attacker of Poly Network has begun returning the $611 million in stolen bitcoin

A Brief Summary

* The attacker for Poly Network has begun restoring monies stolen in the largest DeFi hack to date.

* The move came less than a day after blockchain security firm Slowmist apparently received the attacker's identification information.

The attacker responsible for the $611 million Poly Network vulnerability has begun recovering stolen crypto assets less than a day after their identification information was purportedly obtained by blockchain security firm Slowmist.

They have so far returned $1 million in USDC via the Polygon blockchain. They accomplished this in three transactions involving steadily rising sums (10, 10,000 and 1 million). Additionally, they returned $1.1 million in BTCB, a bitcoin-pegged cryptocurrency traded on Binance Smart Chain.

Seven minutes before initiating the first transaction, the hacker produced a token labelled "The hacker is ready to surrender" and transmitted it to the assigned Polygon address.

The attack occurred less than a day after the initial exploit, which was the largest DeFi breach to date. The stolen assets were $273 million in Ethereum tokens, $253 million in Binance Smart Chain tokens, and $85 million in Polygon USDC tokens. Since then, only Tether has been quick enough to blacklist the stolen USDT on Ethereum, which is worth approximately $33 million.

However, hours after the heist, blockchain security firm Slowmist stated that they had already tracked down the attacker's IP and email address, while continuing to investigate other identifying details about the attacker.

Slowmist's Weibo tweet on Tuesday indicated that the attacker utilised the little-known Chinese cryptocurrency exchange Hoo to assemble the cash for the attack, implying how their digital footprint was initially tracked. Other crypto sleuths discovered information about additional exchanges that may aid in identifying them.

On Wednesday at approximately 4:00 UTC, the attacker wrote "Ready to repay the funds!" in an Ethereum transaction sent from the PolyNetwork Exploiter address to itself. Following that message is another one that reads: "I was unable to contact the Poly. I require a multi-signature wallet from you."

Around 20 minutes later, the folks behind the Poly Network reacted to the exploiter address via a transaction, stating that they were "preparing a multi-sig address owned by known Poly addresses." Following that, the Poly Network team identified three addresses to which they anticipated the attacker would refund the funds in a subsequent transaction. The funds are now being transferred to these accounts.

#cryptopirates #poly #bitcoin

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