Wu said that the blockchain learned that Poly Network issued an open letter on August 19, the content is as follows:
To all friends who are concerned about the progress of the Poly Network incident
Thank you for your continued attention to this Poly Network event. Since this incident, our teams have worked around the clock and without sleep to restore Poly Network to normal operations as quickly as possible. We know that there are countless users and project parties using Poly Network's services, and many users are panicking about losing their asset management rights. We hope to minimize the impact on them, so we can restore our network and users' information in a safe way as soon as possible. Assets are our top priority. We are very pleased that on the day of August 19th, the event had a more prominent phased result. Here I will report to you one by one:
1. Return of assets
At present, the event has achieved phased results, although there is still a long way to go before the complete return of asset control to users. The following is the current status of the affected assets,
a) Mr. Whitehat has returned approximately US$427 million in assets
b) There are still 28,953 ETH and 1,032 WBTC (about 141 million US dollars) left in the 3/4 multi-signature wallet, still waiting for Mr. White Hat to provide his private key authorization.
c) About 33 million USDT was frozen. Poly Network is actively communicating with Tether. How to dispose of this part of USDT should also be a serious and prudent decision-making process for Tether. We believe that there will be a clear result soon, because we also need this part of assets for asset recovery.
$25,000 Bug Bounty
Although we did not get a positive answer from Mr. White Hat, we still fulfilled our previous commitment. We sent 160 ETH worth about 500,000 US dollars to the donation address that Mr. White Hat once disclosed.
0xA87fB85A93Ca072Cd4e5F0D4f178Bc831Df8a00B
It is hoped that in the future this funding can be used to motivate more security experts to contribute to the security of the blockchain. You can click the following link to view the transaction details https://etherscan.io/tx/0x814e6a21c8eb34b62a05c1d0b14ee932873c62ef3c8575dc49bcf12004714eda.
3. Service restoration of cross-chain bridge
The Poly Network team is in the third stage of the roadmap "Project Initiation". At present, Poly Bridge has restored the cross-chain function of at least 31 assets, including: $BET, $BKC, $BNB, $C, $CBC, $COOK, $CWS, $DOG, $DOWS, $EPK, $FEI, $ FLUX, $HD, $HDT, $ISM, $LKT, $mBTM, $MDX, $MIX, $MOZ, $nNEO, $O3, $OOE, $renBTC, $SHIB, $STACK, $sUSD, $TRIBE, $UNI, $WING, $PLT.
For security reasons, Poly Bridge will gradually open asset cross-chain services for various assets. Only after the project party has applied and tested successfully, users can freely conduct cross-chain transactions of the asset. Project parties can apply with us through this channel: https://forms.gle/sLENx34jPBUsrYjx7
4. Restore historical stuck transactions
I am sorry that due to the suspension of the cross-chain service of Poly Network assets in the past few days, the user's historical transactions have been stuck. With the gradual recovery of Poly Network asset cross-chain services, we are actively and intensively processing user historical lag transactions. However, please understand that due to the large number of affected transactions, there may be delays in arrival. We expect to fully restore the historical freeze transactions within 24-48 hours. Thank you for your patience and cooperation. Your understanding is very important to us.
5. Asset restoration
More than expected, Poly Network also entered the fourth phase of the roadmap, "asset restoration". Assets affected by this incident, including $BNB, $SHIB, $FEI, $renBTC, $UNI, have now been restored. Because the above five assets are all cross-chain mapping assets and have no business logic relationship with other affected assets, they can be restored first.
For the 96,942,063 DAI received today, we will convert DAI back to USDC to restore the user's assets. We will use our own funds to compensate for the loss of slippage during the transaction. We will compare the changes of assets as soon as possible, and restore assets to prepare for users to freely withdraw assets.
The above is our latest progress. At the same time, we will still maintain active communication with Mr. White Hat. We believe that the sooner he can feel that the Poly Network is recovering in an orderly and safety-first manner, the sooner he can get his Trust, and finally get his private key.
Poly Network Team