News Polygon Technology Pays $2M Bug Bounty to Protect $850M Crypto Fund

[Admin]

Polygon Technology paid a $2 million bounty for a bug that put up to $850 million worth of cryptocurrency at risk.

Polygon Technology Pays $2M Bug Bounty to Protect $850M Crypto Fund : Read more

 

[peachpuff]

Dude gave up 850mil for 2mil? Idiot... 😂

 

[GenericUser]

Successfully making off with $850 million worth of Polygon would require about $3.8 million worth of ETH first.

I'm not exactly sure if he had nearly 4 million in crypto based capital laying around in order to actually act on this exploit.

 

[derekullo]

I'm not exactly sure if he had nearly 4 million in crypto based capital laying around in order to actually act on this exploit.

They way I'm reading it is he could start with "a large amount of eth/tokens" this might be 1 Eth or 100 Eth.

Then he does his magic and withdraws his original amount 223 times.

The only bottleneck is the 7 day wait period and how confident you are that you wont get caught during that period.

Day 1
Deposit 1 Eth

Day 7
Withdraw 223 Eth
Deposit 223 Eth (Absolute baller move to use your stolen eth to steal more eth from the same company!)

Day 14
Withdraw 49729 Eth
Buy Pagani Huayra

Day 15
Convince IRS agents that a stranger randomly gifted you $203M worth of Eth

 

[cryoburner]

This might be the rare example of responsible disclosure being more lucrative than exploiting the bug or selling it to a vulnerability broker would've been.

How do we know this wasn't a ransom to not release or exploit the vulnerability before they had a fix? >_>