{"id":19575,"date":"2021-08-12T20:29:28","date_gmt":"2021-08-13T00:29:28","guid":{"rendered":"http:\/\/worldjusticenews.com\/news\/?p=19575"},"modified":"2021-08-12T20:29:28","modified_gmt":"2021-08-13T00:29:28","slug":"crypto-heist-hacker-returns-most-of-the-stolen-funds","status":"publish","type":"post","link":"https:\/\/worldjusticenews.com\/news\/2021\/08\/12\/crypto-heist-hacker-returns-most-of-the-stolen-funds\/","title":{"rendered":"Crypto heist hacker returns most of the stolen funds"},"content":{"rendered":"<div class=\"ssrcss-uf6wea-RichTextComponentWrapper e1xue1i87\" data-component=\"text-block\">\n<div class=\"ssrcss-18snukc-RichTextContainer e5tfeyi1\">\n<p class=\"ssrcss-1q0x1qg-Paragraph eq5iqo00\"><b class=\"ssrcss-hmf8ql-BoldText e5tfeyi3\">A hacker who stole just over $600m (\u00a3433m) worth of cryptocurrency has now returned most of the stolen assets.<\/b><\/p>\n<\/div>\n<\/div>\n<div class=\"ssrcss-uf6wea-RichTextComponentWrapper e1xue1i87\" data-component=\"text-block\">\n<div class=\"ssrcss-18snukc-RichTextContainer e5tfeyi1\">\n<p class=\"ssrcss-1q0x1qg-Paragraph eq5iqo00\">On Thursday, Poly Network\u00a0<a class=\"ssrcss-9nsdc6-InlineLink e1no5rhv0\" href=\"https:\/\/twitter.com\/PolyNetwork2\/status\/1425870262067548163\/photo\/1\" target=\"_blank\" rel=\"noopener\">confirmed on Twitter<\/a>\u00a0that $268m worth of Ether tokens had now been recovered.<\/p>\n<\/div>\n<\/div>\n<div class=\"ssrcss-uf6wea-RichTextComponentWrapper e1xue1i87\" data-component=\"text-block\">\n<div class=\"ssrcss-18snukc-RichTextContainer e5tfeyi1\">\n<p class=\"ssrcss-1q0x1qg-Paragraph eq5iqo00\">Over the last 24 hours, the hacker has returned $342m worth of tokens relating to three crypto-currencies to the firm.<\/p>\n<\/div>\n<\/div>\n<div class=\"ssrcss-uf6wea-RichTextComponentWrapper e1xue1i87\" data-component=\"text-block\">\n<div class=\"ssrcss-18snukc-RichTextContainer e5tfeyi1\">\n<p class=\"ssrcss-1q0x1qg-Paragraph eq5iqo00\">The individual also posted several pages of notes to the blockchain, disclosing why they hacked the firm and the offers Poly Network made to them.<\/p>\n<\/div>\n<\/div>\n<div class=\"ssrcss-uf6wea-RichTextComponentWrapper e1xue1i87\" data-component=\"text-block\">\n<div class=\"ssrcss-18snukc-RichTextContainer e5tfeyi1\">\n<p class=\"ssrcss-1q0x1qg-Paragraph eq5iqo00\">In a twist that&#8217;s worrying some cyber-security experts,\u00a0<a class=\"ssrcss-9nsdc6-InlineLink e1no5rhv0\" href=\"https:\/\/twitter.com\/tomrobin\/status\/1425851932950806534\" target=\"_blank\" rel=\"noopener\">the hacker claims<\/a>\u00a0the firm offered to pay $500,000 if they returned the stolen assets, as well as a promise of immunity from prosecution.<\/p>\n<\/div>\n<\/div>\n<div class=\"ssrcss-uf6wea-RichTextComponentWrapper e1xue1i87\" data-component=\"text-block\">\n<div class=\"ssrcss-18snukc-RichTextContainer e5tfeyi1\">\n<p class=\"ssrcss-1q0x1qg-Paragraph eq5iqo00\">However, the hacker says he did not accept the offer.<\/p>\n<\/div>\n<\/div>\n<div class=\"ssrcss-uf6wea-RichTextComponentWrapper e1xue1i87\" data-component=\"unordered-list-block\">\n<div class=\"ssrcss-18snukc-RichTextContainer e5tfeyi1\">\n<div class=\"ssrcss-1pzprxn-BulletListContainer e5tfeyi0\">\n<ul role=\"list\">\n<li><a class=\"ssrcss-9nsdc6-InlineLink e1no5rhv0\" href=\"https:\/\/www.bbc.co.uk\/news\/business-58180692\" target=\"_blank\" rel=\"noopener\">Cryptocurrency heist hacker returns $260m in funds<\/a><\/li>\n<li><a class=\"ssrcss-9nsdc6-InlineLink e1no5rhv0\" href=\"https:\/\/www.bbc.co.uk\/news\/business-58163917\" target=\"_blank\" rel=\"noopener\">Hackers steal $600m in major cryptocurrency heist<\/a><\/li>\n<\/ul>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"ssrcss-uf6wea-RichTextComponentWrapper e1xue1i87\" data-component=\"text-block\">\n<div class=\"ssrcss-18snukc-RichTextContainer e5tfeyi1\">\n<p class=\"ssrcss-1q0x1qg-Paragraph eq5iqo00\">By Thursday evening, Poly Network posted an update that most of the remaining assets in the hacker&#8217;s possession had been transferred to a digital wallet controlled by both the hacker and the company.<\/p>\n<\/div>\n<\/div>\n<div class=\"ssrcss-uf6wea-RichTextComponentWrapper e1xue1i87\" data-component=\"text-block\">\n<div class=\"ssrcss-18snukc-RichTextContainer e5tfeyi1\">\n<p class=\"ssrcss-1q0x1qg-Paragraph eq5iqo00\">But some of the money is still outstanding.<\/p>\n<\/div>\n<\/div>\n<div class=\"ssrcss-uf6wea-RichTextComponentWrapper e1xue1i87\" data-component=\"text-block\">\n<div class=\"ssrcss-18snukc-RichTextContainer e5tfeyi1\">\n<p class=\"ssrcss-1q0x1qg-Paragraph eq5iqo00\">&#8220;The hacker still holds $33.4m of stolen Tether [tokens] &#8211; because it has been frozen by Tether themselves,&#8221; Tom Robinson, co-founder of Elliptic, a London-based blockchain analytics and compliance firm, told the BBC.<\/p>\n<\/div>\n<\/div>\n<div class=\"ssrcss-uf6wea-RichTextComponentWrapper e1xue1i87\" data-component=\"text-block\">\n<div class=\"ssrcss-18snukc-RichTextContainer e5tfeyi1\">\n<p class=\"ssrcss-1q0x1qg-Paragraph eq5iqo00\">He added that it could be seen on the blockchain that &#8220;a few thousand dollars&#8217; worth of various other tokens&#8221; were being held onto by the hacker.<\/p>\n<\/div>\n<\/div>\n<div class=\"ssrcss-uf6wea-RichTextComponentWrapper e1xue1i87\" data-component=\"text-block\">\n<div class=\"ssrcss-18snukc-RichTextContainer e5tfeyi1\">\n<p class=\"ssrcss-1q0x1qg-Paragraph eq5iqo00\">It was not clear, however, if these were part of the stolen assets, or donations that the hacker\u00a0<a class=\"ssrcss-9nsdc6-InlineLink e1no5rhv0\" href=\"https:\/\/twitter.com\/tomrobin\/status\/1425903792277630984\" target=\"_blank\" rel=\"noopener\">requested people to send them on Thursday<\/a>, to compensate any users who might have lost money due to the hack.<\/p>\n<\/div>\n<\/div>\n<div class=\"ssrcss-uf6wea-RichTextComponentWrapper e1xue1i87\" data-component=\"text-block\">\n<div class=\"ssrcss-18snukc-RichTextContainer e5tfeyi1\">\n<p class=\"ssrcss-1q0x1qg-Paragraph eq5iqo00\">Other money outstanding also includes a 13.37 Ether tip ($40,000), which the hacker sent to a user who warned them that the Tether tokens had been frozen by its developer.<\/p>\n<\/div>\n<\/div>\n<div class=\"ssrcss-uf6wea-RichTextComponentWrapper e1xue1i87\" data-component=\"text-block\">\n<div class=\"ssrcss-18snukc-RichTextContainer e5tfeyi1\">\n<p class=\"ssrcss-1q0x1qg-Paragraph eq5iqo00\">The Poly Network hack occurred on Tuesday, when blockchain site Poly Network said hackers had exploited a vulnerability in its system and taken thousands of digital tokens such as Ether.<\/p>\n<\/div>\n<\/div>\n<div class=\"ssrcss-uf6wea-RichTextComponentWrapper e1xue1i87\" data-component=\"text-block\">\n<div class=\"ssrcss-18snukc-RichTextContainer e5tfeyi1\">\n<p class=\"ssrcss-1q0x1qg-Paragraph eq5iqo00\"><a class=\"ssrcss-9nsdc6-InlineLink e1no5rhv0\" href=\"https:\/\/twitter.com\/PolyNetwork2\/status\/1425123153009803267\/photo\/1\" target=\"_blank\" rel=\"noopener\">In a letter posted on Twitter<\/a>, it urged the thieves to &#8220;establish communication and return the hacked assets&#8221;.<\/p>\n<\/div>\n<\/div>\n<div class=\"ssrcss-uf6wea-RichTextComponentWrapper e1xue1i87\" data-component=\"text-block\">\n<div class=\"ssrcss-18snukc-RichTextContainer e5tfeyi1\">\n<p class=\"ssrcss-1q0x1qg-Paragraph eq5iqo00\">The anonymous hacker\u00a0<a class=\"ssrcss-9nsdc6-InlineLink e1no5rhv0\" href=\"https:\/\/www.bbc.co.uk\/news\/business-58180692\" target=\"_blank\" rel=\"noopener\">claimed he or she carried out the heist for fun<\/a>\u00a0and to encourage cryptocurrency exchange firm Poly Networks to improve its security.<\/p>\n<\/div>\n<\/div>\n<div class=\"ssrcss-mysbf6-ComponentWrapper-CrossheadComponentWrapper e1xue1i86\" data-component=\"crosshead-block\">\n<h2 class=\"ssrcss-1s5ma9r-StyledHeading e1fj1fc10\">Offer of immunity from prosecution<\/h2>\n<\/div>\n<div class=\"ssrcss-uf6wea-RichTextComponentWrapper e1xue1i87\" data-component=\"text-block\">\n<div class=\"ssrcss-18snukc-RichTextContainer e5tfeyi1\">\n<p class=\"ssrcss-1q0x1qg-Paragraph eq5iqo00\">Poly Network said on Twitter it was still waiting for the repayment process to be completed, but that it is working with the hacker, whom the firm named &#8220;Mr White Hat&#8221;.<\/p>\n<\/div>\n<\/div>\n<div class=\"ssrcss-uf6wea-RichTextComponentWrapper e1xue1i87\" data-component=\"text-block\">\n<div class=\"ssrcss-18snukc-RichTextContainer e5tfeyi1\">\n<p class=\"ssrcss-1q0x1qg-Paragraph eq5iqo00\">White hat hackers are ethical security researchers who use their skills for good to help organisations find security flaws.<\/p>\n<\/div>\n<\/div>\n<div class=\"ssrcss-18mjolk-ComponentWrapper e1xue1i810\" data-component=\"image-block\">\n<figure class=\"ssrcss-15m9t32-StyledFigure e34k3c23\">\n<div class=\"ssrcss-ab5fd8-StyledFigureContainer e34k3c21\"><span class=\"ssrcss-1hq4gmv-Placeholder e16icw910\"><img loading=\"lazy\" decoding=\"async\" class=\"ssrcss-1drmwog-Image ee0ct7c0\" src=\"https:\/\/ichef.bbci.co.uk\/news\/976\/cpsprodpb\/12E05\/production\/_111871377_whatsubject.jpg\" srcset=\"https:\/\/ichef.bbci.co.uk\/news\/240\/cpsprodpb\/12E05\/production\/_111871377_whatsubject.jpg 240w, https:\/\/ichef.bbci.co.uk\/news\/320\/cpsprodpb\/12E05\/production\/_111871377_whatsubject.jpg 320w, https:\/\/ichef.bbci.co.uk\/news\/480\/cpsprodpb\/12E05\/production\/_111871377_whatsubject.jpg 480w, https:\/\/ichef.bbci.co.uk\/news\/624\/cpsprodpb\/12E05\/production\/_111871377_whatsubject.jpg 624w, https:\/\/ichef.bbci.co.uk\/news\/800\/cpsprodpb\/12E05\/production\/_111871377_whatsubject.jpg 800w, https:\/\/ichef.bbci.co.uk\/news\/976\/cpsprodpb\/12E05\/production\/_111871377_whatsubject.jpg 976w\" alt=\"Phone\" width=\"976\" height=\"549\" \/><\/span><\/div><figcaption class=\"ssrcss-1rnnz6t-StyledFigureCaption e34k3c22\">Cyber-security experts are concerned that offering to pay hackers to return stolen assets could set a bad precedent<\/figcaption><\/figure>\n<\/div>\n<div class=\"ssrcss-uf6wea-RichTextComponentWrapper e1xue1i87\" data-component=\"text-block\">\n<div class=\"ssrcss-18snukc-RichTextContainer e5tfeyi1\">\n<p>&nbsp;<\/p>\n<p class=\"ssrcss-1q0x1qg-Paragraph eq5iqo00\">Poly Network has referred to the hacker in this way in multiple public posts. The hacker alleges that they were sent a message from the firm over the blockchain, saying: &#8220;Since we believe that your action is white hat behaviour, we plan to offer you a $500,000&#8221; reward.<\/p>\n<\/div>\n<\/div>\n<div class=\"ssrcss-uf6wea-RichTextComponentWrapper e1xue1i87\" data-component=\"text-block\">\n<div class=\"ssrcss-18snukc-RichTextContainer e5tfeyi1\">\n<p class=\"ssrcss-1q0x1qg-Paragraph eq5iqo00\">They claim the firm added: &#8220;We assure you that you will not be accountable for this incident.&#8221;<\/p>\n<\/div>\n<\/div>\n<div class=\"ssrcss-uf6wea-RichTextComponentWrapper e1xue1i87\" data-component=\"text-block\">\n<div class=\"ssrcss-18snukc-RichTextContainer e5tfeyi1\">\n<p class=\"ssrcss-1q0x1qg-Paragraph eq5iqo00\">The alleged move has angered some in the security world who are worried that it might set a precedent for criminal hackers to white-wash their actions.<\/p>\n<\/div>\n<\/div>\n<div class=\"ssrcss-uf6wea-RichTextComponentWrapper e1xue1i87\" data-component=\"text-block\">\n<div class=\"ssrcss-18snukc-RichTextContainer e5tfeyi1\">\n<p class=\"ssrcss-1q0x1qg-Paragraph eq5iqo00\">Katie Paxton-Fear, a white hat hacker and lecturer at Manchester Metropolitan University, says that &#8220;labelling this hack as white hat is just really disappointing&#8221;.<\/p>\n<\/div>\n<\/div>\n<div class=\"ssrcss-uf6wea-RichTextComponentWrapper e1xue1i87\" data-component=\"text-block\">\n<div class=\"ssrcss-18snukc-RichTextContainer e5tfeyi1\">\n<p class=\"ssrcss-1q0x1qg-Paragraph eq5iqo00\">Mrs Paxton-Fear has found over 30 vulnerabilities in organisations ranging from the US Department of Defense (DoD) to Verizon Media.<\/p>\n<\/div>\n<\/div>\n<div class=\"ssrcss-uf6wea-RichTextComponentWrapper e1xue1i87\" data-component=\"text-block\">\n<div class=\"ssrcss-18snukc-RichTextContainer e5tfeyi1\">\n<p class=\"ssrcss-1q0x1qg-Paragraph eq5iqo00\">&#8220;White hat hacking is all about having a scope, not touching some systems, working with the team, writing professional reports detailing our findings, not going further than we have to to demonstrate risk,&#8221; she said.<\/p>\n<\/div>\n<\/div>\n<div class=\"ssrcss-uf6wea-RichTextComponentWrapper e1xue1i87\" data-component=\"text-block\">\n<div class=\"ssrcss-18snukc-RichTextContainer e5tfeyi1\">\n<p class=\"ssrcss-1q0x1qg-Paragraph eq5iqo00\">&#8220;Our approach is &#8216;first, do no harm&#8217;, potentially verifying fixes are put in place and not putting any users data at risk.&#8221;<\/p>\n<\/div>\n<\/div>\n<div class=\"ssrcss-uf6wea-RichTextComponentWrapper e1xue1i87\" data-component=\"text-block\">\n<div class=\"ssrcss-18snukc-RichTextContainer e5tfeyi1\">\n<p class=\"ssrcss-1q0x1qg-Paragraph eq5iqo00\">Charlie Steele, Partner at Forensic Risk Alliance and former Department of Justice and FBI official is also concerned about the alleged offer from Poly Network.<\/p>\n<\/div>\n<\/div>\n<div class=\"ssrcss-uf6wea-RichTextComponentWrapper e1xue1i87\" data-component=\"text-block\">\n<div class=\"ssrcss-18snukc-RichTextContainer e5tfeyi1\">\n<p class=\"ssrcss-1q0x1qg-Paragraph eq5iqo00\">&#8220;Private companies have no authority to promise immunity from criminal prosecution,&#8221; he told the BBC.<\/p>\n<\/div>\n<\/div>\n<div class=\"ssrcss-uf6wea-RichTextComponentWrapper e1xue1i87\" data-component=\"text-block\">\n<div class=\"ssrcss-18snukc-RichTextContainer e5tfeyi1\">\n<p class=\"ssrcss-1q0x1qg-Paragraph eq5iqo00\">&#8220;In this event where a hacker stole the $600m &#8216;for fun&#8217; and then returned most of it, all while remaining anonymous, is not likely to lessen regulators&#8217; concerns about the variety of risks posed by crypto-currencies.&#8221;<\/p>\n<p>Source: <a href=\"https:\/\/www.bbc.co.uk\/news\/business-58193396\" target=\"_blank\" rel=\"noopener\">bbc.co.uk<\/a><\/p>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<div class=\"mh-excerpt\">A hacker who stole just over $600m (\u00a3433m) worth of cryptocurrency has now returned most of the stolen assets. On Thursday, Poly Network\u00a0confirmed on Twitter\u00a0that $268m worth of Ether tokens had now been recovered. Over <a class=\"mh-excerpt-more\" href=\"https:\/\/worldjusticenews.com\/news\/2021\/08\/12\/crypto-heist-hacker-returns-most-of-the-stolen-funds\/\" title=\"Crypto heist hacker returns most of the stolen funds\">[&#8230;]<\/a><\/div>\n","protected":false},"author":1,"featured_media":1952,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"pmpro_default_level":"","footnotes":""},"categories":[2,3],"tags":[4686,7120,2936,7966,6270],"class_list":{"0":"post-19575","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-news","8":"category-usa","9":"tag-cryptocurrency","10":"tag-cyber-security","11":"tag-hacking","12":"tag-poly-network","13":"tag-ransomware","14":"pmpro-has-access"},"_links":{"self":[{"href":"https:\/\/worldjusticenews.com\/news\/wp-json\/wp\/v2\/posts\/19575","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/worldjusticenews.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/worldjusticenews.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/worldjusticenews.com\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/worldjusticenews.com\/news\/wp-json\/wp\/v2\/comments?post=19575"}],"version-history":[{"count":2,"href":"https:\/\/worldjusticenews.com\/news\/wp-json\/wp\/v2\/posts\/19575\/revisions"}],"predecessor-version":[{"id":19577,"href":"https:\/\/worldjusticenews.com\/news\/wp-json\/wp\/v2\/posts\/19575\/revisions\/19577"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/worldjusticenews.com\/news\/wp-json\/wp\/v2\/media\/1952"}],"wp:attachment":[{"href":"https:\/\/worldjusticenews.com\/news\/wp-json\/wp\/v2\/media?parent=19575"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/worldjusticenews.com\/news\/wp-json\/wp\/v2\/categories?post=19575"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/worldjusticenews.com\/news\/wp-json\/wp\/v2\/tags?post=19575"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}