CryptoLoss

All incidents · Aug 10, 2021

Funds taken from Poly Network were returned within two weeks

Poly NetworkBridgeResolvedEthereum, BSC

On August 10, 2021, the cross-chain project Poly Network said about $610 million had been moved out. That day Tether froze about 33.43 million USDT. The attacker later returned the assets in batches. On August 26 the project said that, including the unfrozen USDT, all affected assets had been recovered.

Loss
610million USD
The project's later account: more than $610 million · as of Aug 10, 2021
Recovered
610million USD
The project: all affected assets recovered · as of Aug 26, 2021

Sequence

Newest first · UTC

Aug 262021 · Thu

  1. The project announced that all affected assets had been recovered

    Confirmation · Poly Network · @PolyNetwork2

    Decrypt cited the project's announcement that day. User assets related to this incident had been fully recovered. A total of 59 assets on the bridge had cross-chain function restored. On the project's figures, the recovered amount lines up with the roughly $610 million stolen. A new number is not created.

    #PolyNetwork has completed the recovery of all #PolyNetworkExploit affected user assets.

    Decrypt · Aug 26, 2021

Aug 252021 · Wed

  1. Tether released the 33,431,200 USDT it had frozen earlier

    Freeze · Tether

    Decrypt reported that the recovery process ended on August 25. The last step was Tether releasing 33,431,200 USDT in total. The project's long article also records this amount. It describes it as the last piece of affected assets to come back to the project's multisig wallet.

Aug 232021 · Mon

  1. The attacker handed over the remaining multisig key, and ETH and WBTC were recovered

    Revision · Poly Network

    Both the project's long article and that day's statement say that at 08:39:04 UTC on August 23, the person the project called Mr. White Hat published one private key of a 3-of-4 multisig wallet on-chain. The project took back the remaining 28,953 ETH and 1,032 WBTC, about $141 million. The USDT frozen by Tether had not been handed back yet. Reuters reported the same day that, aside from this batch of USDT, the stolen assets had been returned.

Aug 112021 · Wed

  1. The attacker said the funds could be returned, and the project began receiving the first batch

    Industry · Poly Network

    The project's later long article says that on August 11 the attacker announced they were ready to return the assets. After the project's receiving addresses were deployed, it began taking back the first batch of returned assets at 08:43:57 UTC on August 11.

Aug 102021 · Tue

  1. Tether froze about 33.43 million USDT

    Freeze · Tether · @Tether_to

    Decrypt cited Paolo Ardoino's post that day. Tether froze about 33 million USDT at address 0xC8a65Fadf0e0dDAf421F28FEAb69Bf6E2E589963. This was the last piece of assets that could not be moved during the return.

    .@Tether_to just froze ~33M $USDt on 0xC8a65Fadf0e0dDAf421F28FEAb69Bf6E2E589963 as part of the #PolyNetwork hack

    Decrypt · Aug 24, 2021
  2. About $610 million was moved out

    Confirmation · Poly Network

    Reuters reported that Poly Network announced the incident on August 10. The project's later long article put the stolen assets at more than $610 million, and said they were returned within 15 days. This site does not write how the contract was called.