Crypto hacker ‘Mr White Hat’ demands $33M worth of stablecoins to be unfrozen

The crypto hacker has communicated with the Poly Network team via the transaction records field within the Ethereum blockchain.

After conducting one of the biggest heists in crypto history, The Poly Network hacker, ‘Mr, white Hat,’ has refused to cooperate and return the stolen coins; he wants $33 million worth of stablecoins to be unfrozen. The Poly Network team has offered a $500,000 bounty for finding the exploit. Poly Network is working feverishly to resolve the issue since the pressure from thousands of victims continues to mount.

The biggest heist in crypto history

 The Poly Network hack occurred two weeks ago when the anonymous hacker nicknamed ‘Mr. White Hat’ succeeded to steal $614 million in digital coins. 

After repaying a share of the funds, they refuse to help and are hindering the Poly Network team. The hack has been dubbed the biggest heist in crypto history. The Poly Network is virtually powerless to do anything except requesting the hacker to return the stolen crypto assets.

The hack is regarded as the biggest crypto heist ever, and there appears to be little the Poly Network crew can do but request the hacker to return the looted coins peacefully.

The hackers have communicated with the Poly Network team via the transaction records field within the Ethereum blockchain. According to blockchain-tracking portal Etherscan, the ambiguous hacker is working as “Poly Network Exploiter 1”.

The crypto hacker is asking that his USDT account be unlocked

The Exploiter is asking that his USDT account be unlocked and accused Poly Network of showing distrust. 

The USDT account the hacker is referring to has $33M in stablecoins. Tether has suspended the funds, and that is annoying the perpetrator the most.

The communication from the hacker shows that he has no problem locking on to the stolen crypto assets for an unspecified period. 

 Poly Network got back to him with a communication telling, “We still hope you can provide the key to us this week because thousands of users are waiting to get their assets back.” 

However, the hacker answered, “I am not ready to publish the key in this week [sic]… Here is one thing that you can always trust me: [sic] Holding BTC and ETH is better than trading them.”

DeFi-related scams are rising, and as per a report by CipherTrace, the first seven months of the year accounted for 54 percent of total crypto fraud volume compares to three percent for all of the previous year.

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Manoj Nair

Manoj is a passionate writer who loves writing on a variety of subjects including trivia, retro movies, unique and unkno More »

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