Tether Releases Frozen Stolen Funds; Over $33M to Poly Network and 1.7M USDT to Yearn Hack

2021-8-27 16:57

Dominant stablecoin Tether said on Wednesday that just over $33.4 million of funds that were frozen by the company in regards to the Poly Network exploit earlier this month have now been released to its legitimate owners.

According to the transaction, the funds have been sent by the Tether Treasury to the Poly Network Multisig address. The transaction cost Tether 0.0063233 Ether ($19.58).

The decision to release the funds was made after working closely with the cross-chain network that involves “strict protocols,” it said. Tether said,

“Freezing funds is not a matter we take lightly – in being the first to act, Tether demonstrated its commitment to security and continued vigilance in ensuring the community always comes first.”

Earlier this week, Poly Network said that it has successfully retrieved all the $610 million stolen in one of the biggest ever DeFi hacks and added at the time that they are in talks with Tether about unfreezing the remaining $33 million in stablecoin, which now has been done. The team said on Thursday,

“PolyBridge has now restored cross-chain functionality for a total of 59 assets. Other advanced functions will be gradually restored.”

The Network offered its hacker a $500,000 “bug bounty” as the hacker said they did the attack to expose a vulnerability in the platform's digital contracts and was always planning to return the funds.

Poly Network labeled the hacker as “Mr. White Hat” and offered them the job of Chief Security Advisor.

Besides unfreezing Poly Network’s stolen funds, Tether also returned 1.7 million USDT the same day, which were stolen as part of the hack of Yearn DAI v1 vault in February this year, said Paolo Ardoino, CTO at Tether and its sister company, Bitfinex, a crypto exchange.

“Really appreciate the quick reaction back in February and your assistance now,” said Banteg, the core developer of Yearn Finance.

When it comes to hacks, recently, Japanese crypto exchange Liquid’s hot wallet was also hacked for about $94 million that blockchain analysis firm Elliptic said included $5 million in Bitcoin, $31 million in Ether, and $13 million in XRP.

Early on Thursday, crypto exchange FTX CEO Sam Bankman Fried said they are extending $120 million capital to Liquid, adding “All customer assets are safe and fully backed.” No other information was shared about the composition, duration, or rate the loan was offered.

The post Tether Releases Frozen Stolen Funds; Over M to Poly Network and 1.7M USDT to Yearn Hack first appeared on BitcoinExchangeGuide.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

POLY AI (AI) на Currencies.ru

$ 9.75E-5 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 0.00 %
Cегодня L: $9.75E-5 - H: $9.75E-5
Капитализация $223 Rank 99999
Доступно / Всего 2.282m AI

poly network tether frozen funds exploit earlier

poly network → Результатов: 84


Взломали DeFi-платформу Poly Network

В воскресенье, 2 июля, платформа Poly Network подверглась взлому. Хакер воспользовался уязвимостью, чтобы выпустить токены на миллиарды долларов. Площадка приостановила работу до выяснения всех обстоятельств.

2023-7-4 12:54


Фото:

Платформа Poly Network приостановила работу из-за масштабного взлома

В минувшие выходные проект DeFi Poly Network подвергся серьезному взлому, в ходе которого злоумышленнику удалось сгенерировать «из воздуха» миллиарды криптовалют на разных блокчейнах.

2023-7-4 09:35


«Спалился»: эксперты перечислили мотивы хакера Poly Network для возврата $611 млн

Неизвестный злоумышленник, который организовал крупнейшую в истории криптовалютной индустрии атаку на китайский межсетевой протокол Poly Network, спустя менее суток решил вернуть похищенные $611 млн.

2021-8-12 18:10


Фото:

Совершена крупнейшая кража криптовалюты

Блокчейн-платформа Poly Network объявила, что хакеры украли криптовалюту на 600 миллионов долларов. Кража стала крупнейшей в истории этой сферы. Poly Network призвала биржи криптовалют внести в черный список токены, поступающие с хакерских адресов.

2021-8-12 13:24


Cross-chain Poly Network Gets Hacked for Over $600M, Exchanges & Stablecoin Issuers Act to Save the Lost Funds

In what appears to be the largest DeFi attack to date, cross-chain protocol Poly Network has been hacked for more than half a billion dollars. “We are sorry to announce that PolyNetwork was attacked on BinanceChain, Ethereum and Polygon,” tweeted the team on Tuesday while sharing the hacker’s address where the assets have been transferred.

2021-8-10 18:02


Хакеры вывели $611 млн из межсетевого протокола Poly Network

10 августа неизвестные взломали межсетевой протокол Poly Network и похитили $611 млн в различных криптовалютах. Команда проекта призвала биржи заблокировать украденные средства. Important Notice:We are sorry to announce that #PolyNetwork was attacked on @BinanceChain @ethereum and @0xPolygon Assets had been transferred to hacker's following addresses:ETH: 0xC8a65Fadf0e0dDAf421F28FEAb69Bf6E2E589963BSC: 0x0D6e286A7cfD25E0c01fEe9756765D8033B32C71— Poly Network (@PolyNetwork2) August 10, 2021 «С сожалением сообщаем, что Poly Network подвергся атаке на сети Ethereum, Binance Smart Chain и Polygon.

2021-8-11 17:44


В тестовой сети запущен мост между сетями Zilliqa и Ethereum

Долгожданный мост между сетями Zilliqa и Ethereum уже доступен в тестовой сети, о чём рассказал президент Zilliqa Амрит Куммер: Куммер поблагодарил команды Switchoe Network, Zil Swap и Poly Network за работу по созданию моста ZIL-ETH, который сейчас проходит тестирование перед окончательным запуском.

2021-7-10 14:08


Фото:

What Is Polymath Network?  Introduction to POLY Token

What Is Polymath? Polymath is a security token platform that uses the ST-20 token standard to ensure compliance with government regulations when issuing digital securities. Polymath is a platform like Ethereum, but instead of creating utility tokens like an ICO platform, it offers equity in a company – a model which has a well-established regulatory […] The post What Is Polymath Network?  Introduction to POLY Token appeared first on Crypto Briefing.

2018-11-21 23:36