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Cryptocurrency-linked company is recovering some record loot stolen by the hacker

Cryptocurrency-linked company is recovering some record loot stolen by the hacker

On Wednesday, the group said on Twitter that some of the record stolen from crypto-transfer company Poly Network has been returned, in a $600 million fraud case.

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The “total value… of assets returned by the hacker” is $4.77 million, Polynet said in a tweet on Wednesday.

This is currently very small compared to the total amount of loot estimated to be around $600 million, according to calculations by users such as cybersecurity researcher and Ethereum specialist Modit Gupta.

The theft, which Poly Network reported theft on Tuesday, consists of Ethereum tokens, which have recovered just over $2.6 million, BinanceChain and OxPolygon.

In a message to hackers posted on Twitter on Tuesday, Poly Network urged hackers to “hand over the assets.”

“The amount of funds it has hacked is the largest in the history of decentralized finance,” the company said. “This money comes from tens of thousands of members of the crypto community.”

The company published the addresses used by hackers and invited crypto wallet holders to “blacklist” them.

Transfers of bitcoin and other crypto assets are based on blockchain technology, which a priori allows for intermediaries such as banks to be dispensed with, with transactions conducted directly from user to user.

By the end of April, crypto thefts, hacks and fraud totaled $432 million, according to CipherTrace.

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