Poly Network Defi Hacker returns large portion of tokens, Chainalysis assesses movements on hacker’s chain – Bitcoin News

On August 11, blockchain intelligence firm Chainalysis released its findings on the recent Poly Network hack that resulted in the loss of approximately 611 million crypto tokens. Chainalysis’s assessment confirmed claims by security firm called Slowmist that the hacker left a fingerprint on the relatively unknown exchange Hoo.com. As of August 11 at 4:18:39 p.m. (UTC), Poly Network details that the hacker has so far returned $ 260 million in assets.

Chainalysis observes hackers’ fingerprints on the channel

The crypto community has been infatuated with the recent decentralized finance hack (challenge) which exploited the Poly Network protocol. Bitcoin.com News reported on the aftermath of the hack and how the hacker started trolling the project with chain messages.

Blockchain monitoring company Chainalysis released a detailed report on what it discovered when it investigated the situation on Wednesday. According to Chainalysis, the hacker stole ETH, WETH, WBTC, UNI, RENBTC, USDT, USDC, DAI, SHIB, FEI, BNB and various BEP-20 tokens.

In our most recent report, Bitcoin.com News explained how the Slowmist organization claimed to have found fingerprints left by the hacker. Chainalysis confirmed some of the findings leaked by Slowmist before the hacker returned around $ 4.7 million in assets.

Slowmist said the hacker exploited an exchange called Hoo.com and was able to obtain an email address and associated IP address. Chainalysis explained why the hacker chose to take advantage of the relatively unknown crypto trading platform.

“We can see that the day before, the attacker withdrew 0.47 ETH from Hoo.com, which was used to pay gasoline charges on transactions associated with the hack,” Chainalysis wrote. Additionally, the attacker appears to have sent 13.37 ETH to a user known as Hanashiro.eth, who sent an ether transaction to the attacker with a message warning them that the USDT they had stolen at Poly Network had been frozen. “

The blockchain monitoring company also released a Chainalysis Reactor chart that shows how the hacker got started.

Hacker Compliments Poly Network, Says “Cross-Chain Hacking Is Trendy”

Additionally, the hacker contacted the Poly Network team and an unknown hacker. While returning fractions of funds, the hacker kept saying that the individual had “saved the project”.

There was also a little question and answer session and the hacker said that “cross-channel hacking is hot” and that he is doing it “for fun”. The discussion highlights that when the hacker spotted the bug, he had “mixed feelings” about the situation. The hacker noted that he or she was “tired” during the conversation and sometimes even complimented the Poly network by calling it a “decent system”.

Towards the end of the Chainalysis report, he notes that the hacker contacted the team and the company highlighted some of the token addresses that were returned.

“It is possible that this was a ruse to escape with the unstolen USDT, but so far there is nothing to suggest that the attacker will not continue to return the stolen funds,” detailed Chainalysis. The Poly Network team updated the community when parts were returned through the project official Twitter account.

What do you think of the Poly Network challenge hack that stole $ 600 million? Let us know what you think of this situation in the comments section below.

Image credits: Shutterstock, Pixabay, Wiki Commons, Chainalysis Reactor Graph,