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Home Technology Cyber Security

Crypto platform Poly Network rewards hackers with a $500,000 bug bounty

bySidra Butt
August 17, 2021
in Cyber Security, New, World
Reading Time: 1 min read
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Poly Network, the cryptocurrency platform that lost $610 million in a hack earlier this week, confirmed on Friday it had offered the hacker or hackers a $500,000 “bug bounty.”

In a statement, it thanked the hacker whom it dubbed a “white hat,” sector jargon for an ethical hacker who generally aims to expose cyber vulnerabilities – who had returned the bulk of the funds for “helping us improve Poly Network’s security.”

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The network also said it hoped “Mr White Hat” would contribute to the blockchain sector’s continued development upon accepting the $500,000 reward, which it had offered as part of negotiations around the return of the digital coins.

The statement did not specify the form in which it would pay the $500,000. It said the hacker had responded to the offer but did not say if it was accepted.

On Thursday digital messages shared on Twitter by Tom Robinson, chief scientist and co-founder of crypto tracking company Elliptic, showed a person claiming to have perpetrated the hack had said Poly Network offered him the bounty to return the stolen assets.

Tags: CryptocurrencyHackerMr White HatPerpetratorPoly Network
Sidra Butt

Sidra Butt

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