As The Data Breach Times noted on November 12, the founder of the Poloniex cryptocurrency exchange offered to pay the thieves who stole an estimated $120 million from the exchange $5 million if they returned the rest of the funds. The hacker(s) didn’t respond at all. The government and ransomware experts repeatedly advise and urge victims not to pay ransom demands because it only incentivizes criminals to engage in more crimes. But what about when there is no ransom demand but the victim just offers a reward or “bounty” for returning stolen data? Won’t that also incentivize more crimes, too?
Crypto.news reports that the founder of the exchange has now upped the reward, but he’s also issued a threat.
Tron founder Justin Sun has increased the white hat bounty, offering the Poloniex hackers a $10 million reward if they return the stolen funds, adding that the team has already unmasked their identity.
In an on-chain message to the hackers, Justin Sun gave them until Nov. 25 to return the stolen funds, as law enforcement from the United States, Russia, and China were already involved. According to Sun, the assets “have been marked for tracking and cannot be used, adding that “financial counterparties will be frozen.”
Cryptocurrency exchange Poloniex suffered an attack on Nov. 10, on its hot wallets, resulting in the loss of over $120 million in various crypto assets on the Ethereum, Bitcoin, and Tron networks.
Read more at crypto.news
