DeFi Poly Network Claims Hacker Stole $611 Million, Asks for Funds to Be Returned

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The decentralized finance (DeFi) project Poly Network suffered a loss of at least $611 million due to hacker theft, according to the organization’s official Twitter account. “We are sorry to announce that Poly Network was attacked,” a tweet said, adding that the hacker was able to access funds on various chains, including funds stemming from the Polygon, Ethereum, and Binance Smart Chain (BSC) protocols.

According to Sushiswap “super-coder” Mudit Gupta, the issue was not a “defi or smart contract hack but a traditional key compromise combined with irresponsible design decisions taken by Poly Network.” The Block Research's Igor Igamberdiev also contends the root cause of the hack was a cryptography issue. The Poly Network team wrote a letter to the hacker asking them to return the funds.

Blockchain security firm SlowMist claims they have already tracked down the attacker's ID and knows their email address, IP information, and device fingerprints. The hacker reportedly send some funds ba…