The Hacker of Poly Network Refused $500.000 “Bug Bounty”

by in DeFi News

Poly Network hacker

DeFi interoperable platform Poly Network, which was hacked a few days ago, offered hackers a $500.000 bug bounty.

Related: THORchain Suffers an $8 M Attack By a White Hat

The attack resulted in removing $610 M from the network.

Afterwards, the platform contracted the hack's initiators via Twitter and they sent back most of the funds via several transactions. The Poly Network team revealed they are implementing the recovery process. The platform refers to the hacker as Mr. White Hat, which is a name given to ethical hackers who intend to detect system vulnerable points.

Poly Network says the hacker helped them to improve the platform's security. In addition, the team said they hoped Mr. White Hat would contribute to the progress of the blockchain sector and would accept the $500.000 reward as a part of negotiations over the return of the digital assets.

The statement didn't disclose if the offer was accepted. Two sides had been holding communication via embedded messages in Ethereum transactions. The attacker said that Poly Network offered a bounty, but he didn't respond.