Poly Network Hack Drama Continues – Hacker Withholds $141 Million

By José Oramas August 21, 2021 In Crypto News, DeFi, Ethereum, Hackers, Tether

The Poly Network drama continues as Mr White Hat is refusing to return US$141 million left on a multi-sig wallet. 

Poly Network Waits for Hacker to Return Private Keys

The hacker has returned most assets, approximately US$427 million worth. But according to a recent update, Mr White Hat is holding hostage $141 million in ETH and WBTC (28,9523 and 1,032 respectively), and about 33 million USDT is frozen.

Poly says it is in constant communication with Mr White Hat on how to deal with the situation.

Poly Accused of Being Complicit in Hack

This back and forth between the protocol and the hacker has outraged the community, some of whom are even accusing the Poly Network team of being behind the hack or otherwise complicit. The Poly Network addressed the community concerns in its communications, claiming it is working as fast as possible can to return the assets.


We understand there are many users and projects using Poly Network’s services, and there are users who are panicking that they might lose control of their assets, and we want to minimise the impact on them, so restoring our network and our users’ assets in a secure manner as quickly as possible is our top priority.

Poly Network statement

José Oramas

José Oramas

José is a journalist and translator with a keen interest in blockchain and cryptocurrencies.

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