The hackers behind over of the largest ever crypto heists are returning the stolen funds, due, blockchain experts believe, to the difficulty in laundering such a large amount of cryptocurrency.
On Tuesday, Poly Network, a platform that facilitates peer-to-peer transactions, allowing users to transfer or swap tokens across different blockchains, said it had been hit by cyberheists resulting in €520 million worth of cryptocurrency being stolen.
However, on Wednesday, the hackers started returning the stolen tokens, with some €290 million being returned to date.
Blockchain analysts said they might have found it too difficult to launder stolen cryptocurrency on such a scale.
Poly Network noted that around €230 million worth of tokens remain stolen.
The theft illustrated the risks of the mostly unregulated decentralised finance (DeFi) sector.
DeFi platforms allow users to conduct transactions, usually in cryptocurrency, without traditional gatekeepers such as banks or exchanges.
According to the crypto website CoinDesk, Poly Network was launched by the founders of the Chinese blockchain project Neo.
Thinking of housing as part of an urban system: what Malta can learn from Singapore’s public housing
Five lessons we can take from the nation twice the size of Malta
Ryanair cuts Malta link to Serbia’s Niš
The low-cost airline is slashing some major routes in Germany, Spain, Belgium, Portugal and Malta
Event tourism is the standout travel trend for 2026 – How will Malta fare?
The global tourism market is booming, and events are leading the way