The Poly Network attack is one of the most interesting in the history of the industry, and it has taken yet another turn
The hack on the decentralised finance (DeFi) protocol Polygon is the biggest in the history of the DeFi sector. The event took several interesting turns over the past few days, and the developments continue to grab headlines.
The Polygon development team has now offered the hacker a position as its chief security advisor. In a Medium update yesterday, the team offered the hacker the position and a reward of $500,000 despite the attacker refusing the money in the past.
Polygon stated that although the hacker refused the $500,000 bounty before, they will still proceed to transfer the funds to a wallet address approved by the attacker. The hacker can use the funds “at his own discretion for the cause of cybersecurity and supporting more projects and individuals,” Polygon added.
In addition to these, the Polygon team said they have no intention of holding the hacker legally responsible for the event that drained $611 million from the protocol. “While there were certain misunderstandings in the beginning due to poor communication channels, we now understand Mr. White Hat’s vision for Defi and the crypto world, which is in line with Poly Network’s ambitions from the very beginning — to provide interoperability for ledgers in Web 3.0,” the post added.
The hacker stole $611 million from the Polygon network, the biggest-ever attack seen in the DeFi space. However, the hacker offered to surrender and has so far returned most of the funds stolen from the platform.
The events are still unfolding, and Polygon has asked the hacker to transfer the private keys as soon as possible so that they can return full asset control back to the affected users. It will be interesting to see how the hacker responds to this latest offer by Polygon and if he will accept the role of chief security advisor to the protocol.