Unexpected flip of events within the biggest crypto larceny in history. currently the hacker or hackers say that that they had ne’er meant to steal them … It seems that the largest cryptocurrency larceny in history can have a contented ending, though some consultants have doubts that that ending is that the true one.
On August eleven, cybercriminals scarf $ 600 million in cryptocurrency from Poly Network , a localized finance supplier that permits users to transfer tokens between networks. this can be the largest crypto larceny in history .
According to Reuters , he or the hackers took advantage of a vulnerability within the system that changes tokens from one blockchain to a different, to steal them. Stealing cryptocurrencies from at intervals the blockchain is nearly not possible , as a result of thousands of computers would got to be hacked at identical time.
This is why hackers steal the individual wallets that contain them, or exploit bugs within the processes of transferring cryptocurrencies from one website to a different. All token movement operations (currency units) square measure recorded. however WHO owns them is AN anonymous piece of data , virtually not possible to trace.
it’s one in all the strengths of cryptocurrencies, and conjointly the largest drawback if they’re taken. This murky matter has taken AN surprising flip, when Poly Network proclaimed that they need contacted the hacker adult male. White Hat (in the jargon, a white hat hacker is AN moral hacker), WHO has assured them that the hack was ” for fun “, which they ne’er meant to stay cryptocurrencies. Poly Network has offered him a souvenir of $ five hundred,000 for revealing the safety flaw that allowed the larceny, and come back|reciprocally} they’ll return all the cash . they need already came over $ 340 million. A happy ending for the speculators … sorry, investors WHO own those cryptocurrencies, though the story isn’t therefore clear.
Some consultants assume that wash those 600 million in cryptocurrencies is extremely difficult , therefore maybe the hackers have thought higher of it and have determined to barter a payment to come back the cryptocurrencies , creating it up as a souvenir for locating a security flaw, to avoid the repercussions legal larceny.