Comments featured in BBC News and Financial Times
Poly Network’s Crypto hacker reward is causing great concern for cyber-security experts and regulators
Poly Network recently announced a hacker stole just over $600m worth of Ether tokens cryptocurrency. The hacker had claimed that the firm offered them $500,000 and immunity from prosecution, which is worrying some cyber-security experts.
FRA partner Charlie Steele spoke to the BBC and Financial Times on the matter:
“Private companies have no authority to promise immunity from criminal prosecution. In this event where a hacker stole the $600m ‘for fun’ and then returned most of it, all while remaining anonymous, is not likely to lessen regulators’ concerns about the variety of risks posed by crypto-currencies.” (Featured in the BBC News)
“I don’t think regulators would be too comfortable relying on Robin Hoods out there to police the system.” (Featured in the Financial Times)