I don't know what's the biggest crypto heist so far, but the Poly Network is definitely the most fun one. I'm probably saying that because I'm not affected by it, but when you look at the whole situation you got to smile.
If you've been following the news recently then you have definitely read/heard of the $600 million Poly Network hack. You read that right, $600 million worth of crypto have been stolen by a hacker/group of hackers just to send them back...
I guess that's the test cross chain platforms need to go through in their maturation process. WLEO has been hacked to, at some point in October last year, and we're alive and well. The team has learned the lesson and the platform moved forward. There was a bit of panic and FUD back then, but when we look at it now, it's just a part of the learning process.
Seems that the crypto hacker who stole $600 million worth of crypto has held an AMA last night, keeping it all on onchain and has shared the reasoning and the plans for the stolen funds with the audience. Why did he do it, you might ask? According to him, just for fun...
"I am not very interested in money! I know it hurts when people are attacked, but shouldn't they learn something from those attacks? I announced the returning decision before midnight so people who had faith in me should had a good rest. ;).”
-"the hacker" source
Since then, the hacker has already returned $342 million of the crypto funds stolen and why some were wondering why so slow... well, he's got a reasoning for that to: *negotiations and interest".
It's the only way I know to prove my dignity while hiding myself identity. In the meanwhile, depositing the stables could earn some interest to cover potential cost[s] so that I have more time to negotiate with the Poly team."
-"the hacker" source
Much wow, much honesty, much generosity...
What's to learn from all these hacks and exploits? Well, my simple minded man's logic tells me that we're still early in perfecting the use of blockchain technology and such bitter experiences are a well deserved kick in the ass. Leofinance has learned its lesson very well I 'd say with the WLEO hack and Poly Network has its chance to do that to.
When it comes to safety it seems that so far Bitcoin has been the strongest in this regard, probably that's why we call it the best digital "store of value". I bet that in ten years from now the overall safety of blockchains and cross chain transactions will be on a whole different level, but in the meantime, the industry is going to have its downtime seasons once in a while.
Overall, I call this hacker a nice guy for sure. Having $600 million at hand and sending most of them back so far, with the intention of returning all the funds, is something not everyone in this space would do. As I wrote above, the hack is nothing more but a well deserved kick in the ass for the industry and I still consider crypto as an idea who's times has come.
Thanks for attention,
Adrian