“Very strange, even from hacking the Poly network to crypto lessons

“This is too weird, even for cryptography,” wrote one of my decryption colleagues at Slack this week. Of course, he mentioned a $ 600 million Poly network hack that revived the rest of a slow week in the crypto country.

In case you missed it, the episode began Tuesday with the biggest hack in crypto history and closed days later when the hacker returned to Poly-network from the Ethereum they stole.a project that decouples transfers between blockchain.

Strange things happened between Dec. This includes a hacker giving air advice to random internet users who helped him and posting a “top hacker” email asking for money to be refunded. Later, the hacker wrote in broken English, sharing thoughts such as” hacking by chain is great, ” and ” ask yourself what you would do if you faced such a big chance.& quot;

The strangest part, at least for my colleague, came with suggestions that the hack was driven by a hacker in a white hat, or an insider who wanted to teach the Poly Network a lesson about bad security practices. In response, the company offered the hacker a $ 500,000 error reward only for the hacker’s refusal of the reward. “so much dignity for absolute anonymous,” another colleague said.

The episode caught the attention of the mainstream financial world, including Bloomberg’s Matt Levin, who called his much-read column “crypto hackers are good now.” But others wondered whether the hacker had decided to take the money back after tether and exchanges began blacklisting the stolen tokens, and Poly Network warned that hacking constituted a serious crime.

Maybe we’ll never know who the hacker is and what his motivations are. But the Poly Network hack offers a few lessons about the state of the crypto industry.

First, cybersecurity is still crucial to the crypto project, and those who don’t take it seriously face catastrophic consequences. Second, the crypto industry

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