The hacker of a $600 million crypto heist claimed he did it 'for fun'

hacker

August 13, 2021: -A person who claims to be the hacked of the biggest cryptocurrency heists of all time says the theft was done “for fun.”

Over $600 million worth of crypto was stolen in the cyberattack, targetting a decentralized finance platform known Poly Network.

Decentralized finance is a fast-increasing space within the crypto industry that is aiming to reproduce traditional financial products such as loans and trading without the involvement of any middlemen.

While it attracts billions of dollars in investment, the DeFi space has also given the surge to new hacks and scams. For instance, a token backed by billionaire investor Mark Cuban decreased recently from $60 to several thousands of a cent in an apparent “bank run.”

Poly Network is a platform that finds to connects different blockchains so they can work. A blockchain is a digital ledger of transactions maintained by a distributed network of computers rather than a central authority.

A hacker exploited a flaw in Poly Network’s code to steal the funds on Tuesday. According to researchers at blockchain security firm SlowMist, Poly Network lost over $610 million in the attack.

Poly Network pleads with the hacker to return the money, and nearly half of the crypto haul was returned by Wednesday. According to Poly Network, as of Thursday, $342 million worth of assets had been born.

In a Q&A within a digital currency transaction on Wednesday, a person claiming to be the anonymous hacker explained the reasoning behind the hack, “for fun.”

Tom Robinson, the chief scientist at blockchain analytics firm Elliptic, said the person writing the Q&A was the hacker behind the Poly Network attack.

“The messages are embedded in transactions sent from the hacker’s account,” Robinson told CNBC.

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The hacker of a $600 million crypto heist claimed he did it 'for fun'
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The hacker of a $600 million crypto heist claimed he did it 'for fun'
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A person who claims to be the hacked of the biggest crypto currency heists of all time says the theft was done “for fun.”
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The Women Leaders
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