Poly Network, a decentralized finance (DeFi) platform got hacked and faces a loss of $600 million, and now the company has offered the hacker the position of chief security adviser.
The company wrote: “To extend our thanks and encourage Mr. White Hat to continue contributing to security advancement in the blockchain world together with Poly Network, we cordially invite Mr. White Hat to be the Chief Security Advisor of Poly Network.”
DeFi platform stated that by this heist we are able to see gaps of several security vulnerabilities and now we are fixing them, adding that the repair won’t “take place overnight.”
The company said it “has no intention of holding Mr. White Hat legally responsible, as we are confident that Mr. White Hat will promptly return full control of the assets to Poly Network and its users.”
The company said it has offered a “$500,000 bug bounty” to the hacker “to use it at his own discretion for the cause of cybersecurity and supporting more projects and individuals.”
— Poly Network (@PolyNetwork2) August 10, 2021
“While there were certain misunderstandings in the beginning due to poor communication channels, we now understand Mr. White Hat’s vision for Defi and the crypto world, which is in line with Poly Network’s ambitions from the very beginning — to provide interoperability for ledgers in Web 3.0,” the company said.
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