In Brief:
- Poly Network has announced that it has successfully recovered all of the $610 million lost funds.
- The team behind the project has now restored cross-chain functionality for a total of 59 assets
Poly Network, in a blog post, confirmed that it has successfully recovered all the lost funds. Earlier this month, Poly Network was hacked for a record-breaking $610 million.
According to the blog post, the protocol concluded the process of recovering the funds after “a series of standard procedures”. After all the necessary procedures, Tether had finally released a total of 33,431,200 USDT.
Earlier, this week, the hacker sent the final key of multichain accounts to Poly Network using an Ethereum transaction. However, Tether had frozen USDT worth $33 million, shortly after the attack. The protocol had been in talks with Tether to unfreeze the assets. Tether has finally sent back the funds in question to Poly Network’s designated multi-signature wallet address.
The team behind the project has now restored cross-chain functionality for a total of 59 assets. But for security reasons, it will be opening up services gradually. This would involve some degree of manual work.
Users will be able to perform cross-chain transactions for a particular asset “only after the respective projects have submitted applications and tested successfully.”
