What Happened: Poly Network and Upbitc.com said that it is offering the hacker a position of security advisor with a bounty of $500,000 and is referring to them as “Mr. White Hat.”
“To extend our thanks and encourage Mr. White Hat to continue contributing to security advancement in the blockchain world together with Poly Network, we cordially invite Mr. White Hat to be the Chief Security Advisor of Poly Network,” the company said in the official statement.
Previously, the hacker refused to accept the bounty payment offered to them by Poly Network. “The poly did offer a bounty, but I have never responded to them. So instead, I will send all of their money back” they replied. However, they have considered offering it to the technical community who have made contributions to blockchain security, the company said.
“Poly Network has no intention of holding Mr. White Hat legally responsible, as we are confident that Mr. White Hat will promptly return full control of the assets to Poly Network and its users.”
“We are grateful for Mr. White Hat’s outstanding contribution to Poly Network’s security enhancements. While there were certain misunderstandings in the beginning due to poor communication channels, we now understand Mr. White Hat’s vision for Defi and the crypto world, which is in line with Poly Network’s ambitions from the very beginning,” said the Poly Network. “
The Money Heist: Last week, DeFi protocol Poly Network reported a total loss of over $611 million in the malicious attack, making it the biggest hack in DeFi history to date. The stolen assets consisted of $273 million of Ethereum tokens, $253 million in tokens on Binance Smart Chain, and $85 million in USDC on the Polygon network.