Inside the $600 Million DeFi Hack; Gensler’s Crypto Power Push

A $600 million theft in crypto assets, one of the biggest exploits in cryptocurrency history, made a surprise twist on Wednesday: an unnamed hacker returned almost half of the stolen money.

While that’s good news for PolyNetwork, the platform hit by the hack, as well as its users, the hacker’s give-back does little to soften the ‘buyer beware’ warning hanging over decentralized finance. Players in this sector create a system where individuals and companies don’t have to go through a bank or other institution to complete financial transactions.