Last week, more than $ 600 million in cryptocurrency was stolen in an elaborate digital theft when a hacker exploited a vulnerability in Poly Network, a platform used to make cryptocurrency transactions across different blockchains. . If that wasn’t a wild enough story, the hacker later returned almost all the stolen currency after marking the illegal transactions (which made the money almost impossible to convert to US dollars).
In another strange twist to this story, Poly Network announced today in a medium publish who has maintained daily contact with the hacker named Mr White Hat. Poly Network claims that the hacker shared his concerns about "Poly Network's overall security and development strategy" in the post.
Poly Network then offered Mr. White Hat a job as Poly Network’s chief security adviser. It’s not uncommon for hackers to make a living trying digital defense of big business for a fee. The idea is: Who better to manage your security than the person who stole it from you?
#PolyNetwork has no intention of making #mrwhitehat responsible legally and cordially invites you to be our chief security adviser. There is a $ 500,000 reward on the way. Whatever #mrwhite you decide to do with the reward in the end, we have no objections. https://t.co/4IaZvyWRGzAugust 17, 2021
“We also have more experts like Mr. White Hat involved in the future development of Poly Network, as we believe we share the vision of building a secure and robust distributed system,” the company wrote. "In addition, to thank and encourage Mr. White Hat to continue to contribute to the advancement of security in the world of the blockchain together with Poly Network, we cordially invite Mr. White Hat to be the advisor in Poly Network security chief ".
Poly Network also promised White Hat a $ 500,000 error reward for discovering the exploitation that resulted in the mass robbery, although the hacker initially rejected it. Poly Network still sent him $ 500,000 to do whatever he wanted. The company also stated that it does not legally hold Mr. White Hat accountable because "it is confident that Mr. White Hat will immediately return full control of the assets to Poly Network and its users."
Although it is called Mr. White Hat, some users have found it hard to believe that the theft was an unexpected security test and not just a messy theft that both parties are now trying to recover.
And if you still do the counting, as of Friday, $ 340 million was returned along with $ 238 million to a multi-signature portfolio with a remaining $ 33 million that you currently expect not to freeze. Poly Network also took this opportunity to turn lemons into lemonade and announce the launch of a bug rewards program. Discovering vulnerabilities in your platform can fetch up to $ 100,000.