Cryptocurrency Heist | Poly Network Offers Hacker Top Security Job | Insists Him To Keep $500,000 as Reward
Cryptocurrency hacker who was involved in an over $600 million heist last week has been offered the job of Chief Security Advisor. It is the same company that he targeted is offering him the post. The deal does not stop here, but Poly Network has insisted the cryptocurrency hacker, “Mr. White Hat” keep the $500,000 as a reward, a token of gratitude. The hacker had returned most of the stolen funds mentioning that the heist was just for fun. The hacker also refused to accept the company’s reward as part of negotiations and stated publicly that he considered offering it to those who have contributed to blockchain security.
“White Hat”, a term we use to describe an ethical hacker who aims to expose cyber vulnerabilities. Polly Network allows users to swap tokens from one digital ledger to another. But someone found a flaw in the system and transferred assets to their own cryptocurrency wallets. The major attack saw the hacker make off with more than $600 million worth of tokens. This heist was the largest known cryptocurrency heist ever as it passes the $534.8 million in digital coins that was stolen from Japanese exchange Coincheck in 2018.
After the Poly Network heist came out, the company made an appeal to the hacker and it almost worked out.
Poly Network tweeted about offering the job to the Cryptocurrency Hacker
#PolyNetwork has no intention of holding #mrwhitehat legally responsible and cordially invites him to be our Chief Security Advisor. $500,000 bounty is on the way. Whatever #mrwhitehat chooses to do with the bounty in the end, we have no objections. https://t.co/4IaZvyWRGz— Poly Network (@PolyNetwork2) August 17, 2021
Express our deepest apologies to all users again. With the aim of ensuring complete, safe, and smooth asset recovery, we would like to briefly share #PolyNetwork 's roadmap for resuming operations and fully recovering user assets in the coming phases.https://t.co/Zh1Sm9eDq1— Poly Network (@PolyNetwork2) August 14, 2021
Poly Network said the hacker had “expressed concerns about the company’s security and overall development strategy”. Then the job offer followed.
“Also, 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.