The crypto market has been rocked by the news of what might be the biggest DeFi hack in history. On August 10th, the exploitation on the Poly Network saw the hacker(s) make away with more than $600 million in crypto. A hack that shook the entire DeFi market to its very core. The hacker made off with a loot of over $200 million in ETH. And hundreds of millions in tokens. After a warning from a user warning that their USDT address had been blacklisted, the hacker then sent approximately $42K in ETH to the address which issued the warning. Resulting in hundreds of transactions being sent to the hacker’s address asking for money. Related Reading | Q&A With Poly Hacker, Hero Or Villain Behind Biggest DeFi In History? This culminated in a three-day rollercoaster of emotions and negotiations. The team behind the Poly Network, in a desperate attempt, penned a letter to the hacker. Begging for the stolen funds to be returned to them. And to much surprise, the hacker listened. They agreed to return the funds. But they asked that a multisig wallet address be provided for the crypto to be transferred into. Hacker Begins To Return Stolen Crypto Following the provision of the wallet, the hacker began the process of returning the crypto. At first, the hacker return SHIB tokens and other tokens. Which amounted to over $250 million. But there was still a large part of the loot left behind in the hacker’s wallet. The Poly Network team ...
