The recent $6.3 billion cryptocurrency heist at Binance has once again raised questions about the security of digital assets. But not every major crypto theft has ended with the attackers keeping the money. In several unusual cases, hackers have returned millions of dollars, sometimes after negotiations with the affected platforms.
(Also read: Binance confirms crypto heist, biggest in history, but no one’s sure what broke)
Here are four notable incidents where stolen cryptocurrency was recovered.
Poly Network: The $610 million heist
In August 2021, hackers stole approximately $610 million from Poly Network, a platform that allows users to transfer cryptocurrencies between different blockchains.
However, the case took an unexpected turn when the unidentified attacker began returning the stolen assets just a day after the breach was disclosed on August 10.
According to Reuters, the hacker claimed the attack had been carried out "for fun" to expose vulnerabilities in the platform's digital contracts. The attacker also claimed that returning the money had always been the plan.
Poly Network offered a $500,000 reward to the hacker.
{{/usCountry}}Poly Network offered a $500,000 reward to the hacker.
{{/usCountry}}By August 26, the platform confirmed that all $610 million in affected assets had been recovered. This included approximately $33.4 million in tokens that had been frozen and subsequently released by Tether.
Euler Finance: Nearly $200 million recovered
A similar incident occurred in March 2023, when an attacker stole approximately $197 million from decentralised lending platform Euler Finance.
Rather than disappearing with the funds, the hacker entered negotiations with the platform and gradually returned the stolen cryptocurrency.
On April 4, the Euler Foundation announced that "all recoverable funds were returned", bringing the three-week recovery effort to an end.
Curve Finance: $53 million recovered
In July 2023, hackers exploited a security vulnerability affecting Curve Finance's liquidity pools, stealing approximately $73.5 million.
However, some attackers subsequently agreed to return funds after being offered rewards.
(Also read: ‘Absolutely untrue’: Ratan Tata on his association with cryptocurrency)
According to The Block, approximately $53 million, representing 73% of the stolen assets, had been recovered by August 6. The recoveries included both hacker repayments and funds secured through intervention by other operators.
Munchables: $62 million returned
In March 2024, cryptocurrency gaming platform Munchables suffered a security breach involving approximately $62 million.
The suspected developer responsible later surrendered the private keys controlling the stolen assets, allowing the money to be recovered.
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According to The Block, roughly $62.8 million was transferred into a secure wallet.
"All user funds are safe," Munchables announced following the recovery.