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Cryptocurrency theft: 'Ethical' hacker wanted to 'have fun'

Cryptocurrency theft: ‘Ethical’ hacker wanted to ‘have fun’

The alleged hacker responsible for a record-breaking cryptocurrency theft, which has damaged confidence in the sector’s security, said he did it “for fun”, in a text relayed on Twitter.

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“Identifying a flaw in the Poly Network architecture would be one of the best moments of my life,” comments the man who set out to return the hacked tokens, worth a total of $613 million.

He is now considered an “ethical hacker” by Poly Network, the victim of the attack.

“At 8:00 GMT, $342 million in crypto assets were returned, including 4.6 million in Ethereum, 252 million in BinanceCoin, and 85 million in OxPolygon,” the decentralized finance platform, which allows cryptocurrency exchanges, tweeted Thursday.

The robbery victim on Tuesday, Poly Network adopted an instant conciliatory tone with the attacker, urging him to get in touch and return the money.

She now calls it “Mr. White Hat,” referring to hackers who break into computer systems to identify vulnerabilities and help organizations enhance their security. Some companies even organize contests with rewards.

“As we continue to communicate with Mr. White Hat, the remaining Ethereum assets are gradually being transferred to the multi-address wallet requested by Mr. White Hat,” Polly Network said.

“We are waiting for Mr. White Hat to return all crypto assets to the user as he indicated.”

A person claiming to be this hacker provided explanations in a text in the form of questions and answers, which were posted on the platform and transmitted by many experts who follow the case closely.

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“Why did you move the tokens? To put them in safety,” he said, noting an anomaly, in particular.

“To be honest, I had some selfish ambitions, to do something fun, but not harmful… then I realized that being a moral leader would be the coolest breakthrough I could get.” I do “.

The scam sparked debate about the value of encouraging this type of practice to enhance the security of decentralized finance.

BinomiaPool, which is developing a solution for secure transfers, tweeted, “I am offering a 5-10% bounty for crypto hacks.” “It could be a win-win solution: hackers don’t go to jail. Society suffers acceptable losses. Code is getting better.”

SlowMist, a cybersecurity company, let them know that they are in the way of the hackers. But it is difficult to know whether Mr. Chabu Blanc can really be identified, whether he can get a reward or legal action.

The FBI and the Justice Department did not respond to AFP’s requests.