Unconfirmed: Why Did the Poly Network Attacker Return Half the Money They Stole? - Ep.263

Poly Network, a cross-chain DeFi protocol, recently suffered a $600M hack -- the largest DeFi exploit in crypto history. Mudit Gupta, security researcher and SushiSwap dev, breaks down the attack, explaining how it occurred, why the hacker is returning the funds, and what Poly Network should do next. Show highlights:
how Poly Network works
what specific mechanism the hacker attacked on Poly Network
why many people (including myself) had never heard of Poly Network before the hack
how “keepers” failed to protect Poly Network
why a failed transaction was the key to pulling off the hack
what SlowMist claims to have discovered about the hacker
what could be motivating the hacker to return the stolen funds
how the hacker is communicating with Poly Network
why Tether was able to freeze funds while USDC and BSC allowed the hacker to get away with their tokens
how Poly Network should handle negotiations with the hacker
 
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Sorare: https://sorare.com  
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Episode Links
 
Mudit Gupta
Twitter: https://twitter.com/Mudit__Gupta

Blog: https://mudit.blog/

SushiSwap: https://twitter.com/SushiSwap 
 
Poly Network hack
Poly Network response: https://twitter.com/PolyNetwork2/status/1425870262067548163 
Mudit’s analysis: https://mudit.blog/poly-network-largest-crypto-hack/ 
Kelvin Fichter thread: https://twitter.com/kelvinfichter/status/1425217046636371969

Hacker Q&A: https://twitter.com/tomrobin/status/1425487745166753794

Tether blacklist: https://twitter.com/paoloardoino/status/1425090760609832978

ETH tip: https://twitter.com/HsakaTrades/status/1425093301691195407

The Block’s coverage: https://www.theblockcrypto.com/post/114189/poly-hack-attacker-return-funds-id-slowmist 
​​Returning funds: https://www.coindesk.com/poly-network-hacker-starts-to-return-funds
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