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Guru3D.com » News » Hacker returns $600 million in cryptocurrency that he had stolen

Hacker returns $600 million in cryptocurrency that he had stolen

by Hilbert Hagedoorn on: 08/24/2021 09:02 AM | source: | 16 comment(s)
Hacker returns $600 million in cryptocurrency that he had stolen

According to the Reuters news agency, the hacker who stole more than 600 million dollars (more than 511 million euros) in digital tokens from the cryptocurrency platform Poly Network two weeks ago has repaid the entire amount.

The hacker had already begun reimbursing the cryptocurrency coins that had been stolen. The exact amount of money that would be returned to Poly Network was still up in the air at the time, but the platform has now confirmed that it will receive its entire investment back.

The work, on the other hand, is not yet ready for the platform. Poly Network is currently unable to access around $33 million in cryptocurrency due to a temporary freeze of the funds. In addition, the platform is still in the process of restoring a functioning system.

Earlier this week, Poly Network said that it had offered the hacker half a million dollars (more than 425,000 euros) in compensation. According to the platform, the hacker was dressed in a "white hat," which refers to an ethical hacker who hunts for flaws in information technology systems in order to keep one step ahead of malicious hackers.







« Rare Donkey Kong game fetches $9,000 at auction · Hacker returns $600 million in cryptocurrency that he had stolen · NVIDIA: RTX Coming To Battlefield 2042, Marvel’s Guardians of the Galaxy, Dying Light 2 Stay Human, and More »

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rl66
Senior Member



Posts: 3397
Joined: 2007-05-31

#5940646 Posted on: 08/24/2021 12:36 PM
Other than a fancy Ferrari what is a FIAT?

Fiat is Stellantis, as Opel, Citroen, Peugeot, jeep, dodge, chrysler, lancia, masserati... Chinese automotive giant
Ferrari is no more Fiat/Chrysler since 2015, but there is still engine crossover as one of the owner have part in both

Kaarme
Senior Member



Posts: 2953
Joined: 2013-03-10

#5940647 Posted on: 08/24/2021 12:36 PM
Oh and I do believe daily trades of $600M might be much, but give the hacker a month's time, and only insiders would know what happens there.


True enough. Plus it's not like it would be an all or nothing situation. He could have used only a portion of the crypto for speculation trading.

hawk7000
Member



Posts: 43
Joined: 2017-08-24

#5940699 Posted on: 08/24/2021 03:29 PM
This refers to "real money"; it's a term used mainly by finacial guys and quite vocally, the crypto currency community.
Further reading: Fiat money - Wikipedia

Oh and I do believe daily trades of $600M might be much, but give the hacker a month's time, and only insiders would know what happens there.

I think it was a snarky joke based on how it was written as if it was an acronym, which would indeed suggest it was in reference to the car manufacturer.

fantaskarsef
Senior Member



Posts: 13111
Joined: 2014-07-21

#5940701 Posted on: 08/24/2021 03:55 PM
I think it was a snarky joke based on how it was written as if it was an acronym, which would indeed suggest it was in reference to the car manufacturer.


Possibly. Still thought just posting the explanation didn't hurt if it didn't help.

Netherwind
Senior Member



Posts: 8010
Joined: 2009-11-13

#5940705 Posted on: 08/24/2021 04:10 PM
This refers to "real money"; it's a term used mainly by finacial guys and quite vocally, the crypto currency community.
Further reading: Fiat money - Wikipedia

Oh and I do believe daily trades of $600M might be much, but give the hacker a month's time, and only insiders would know what happens there.
Sounds better than a Fiat Punto :D

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