$5 Million Reward: Justin Sun’s Bold Move Against Poloniex Attackers
10 Noviembre 2023 - 8:38AM
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Crypto exchange platform Poloniex was attacked by a bad actor,
losing over $60 million of its customer’s funds. The Justin Sun led
the exchange and launched an investigation, which remains ongoing,
to determine the identity of the attackers. Related Reading: Shiba
Inu Burn Rate Soars Over 3,000% – What’s The Impact On Price?
Poloniex Makes Offering To Attackers The crypto analytics platform
Nansen data indicates that over $68 million in tokens left Poloniex
over the past day. The image below shows that the attacker stole
assets in ETH, BADGER, REN, OKB, NEXO, and 170 other tokens. Nansen
also confirmed that the biggest losses were suffered in top assets,
Ethereum and USDT, with around $11 million each. Other tokens such
as ELON, USDC, SHIB, and GLM saw inferior losses but still in the
millions of dollars. A few hours ago, as mentioned, the exchange
launched an investigation and Justin assured its users that the
platform keeps a “healthy financial position.” In that sense, Sun,
also the founder of blockchain TRON, claimed that users will be
reimbursed for their losses. The platform is currently exploring a
partnership with other crypto exchanges to recover the fund. Sun
stated: We are offering a 5% white hat bounty to the Poloniex
hacker. Please return the funds to the following ETH/TRX/BTC
wallets. We will give you 7 days to consider this offer before we
engage law enforcement. In the crypto community, some users praised
these efforts to recover the fund and encouraged the attacker or
attackers to take the bounty for “pointing out vulnerabilities” in
the platform’s security. However, other users were critical of the
measure. One community member stated: (…) a white hat doesn’t steal
funds and then ask for a bounty, whatever you’re promising, law
enforcement will be involved. It’s like saying you can beat someone
to death but if you take them to the hospital you’ll be safe (…).
Who Is Behind The Poloniex Attack? It remains to be seen if the
attacker will accept the offer. In the crypto space, many
cyberattacks have been conducted by state-sponsored hacker groups,
such as the infamous Lazarus Group, allegedly working for the North
Korean Government. According to a report from our sister website,
Bitcoinist, this group stole billions of dollars from the nascent
industry in the past two years. The terrorist group is allegedly a
key component of the country’s nuclear program. Jason Bartlett, a
researcher at the Center for a New American Security (CNAS), said:
Cryptocurrency offers Pyongyang a new kind of currency that is
substantially less regulated and understood by national
governments, financial institutions, and international
organizations. However, cryptocurrencies also operate as an
important tool for law enforcement agencies to track down and cut
funding for rogue entities. Due to blockchain technology’s
transparency, some criminals stay clear of digital assets and
crypto exchanges. Related Reading: $9 Trillion BlackRock Files
Ethereum Spot ETF, What’s So Special About It? As of this writing,
Ethereum (ETH) trades at $2,077 with a 7% profit in the last 24
hours. Cover image from Unsplash, chart from Tradingview
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