CoinEx Pens Open Letter To Hackers, Calls For Negotiations

Crypto Daily
Crypto Daily

18 Sep 2023 9:01 AM

The exchange has promised a significant bug bounty reward if the funds are returned....

  • Cryptocurrency exchange CoinEx has reached out to hackers in an open letter, urging them to negotiate and return the stolen assets.
  • The exchange acknowledges the importance of ensuring the security of assets and expresses a desire for dialogue and negotiation.
  • CoinEx offers a generous bug bounty as an incentive for the hackers to return the funds and promises to upgrade its security infrastructure.
  • The hack, orchestrated by the Lazarus Group, resulted in the theft of approximately $70 million from the platform.
  • CoinEx is still calculating the full extent of the financial damage and plans to reopen withdrawals in phases after completing security checks.

The sentiment of the article is mostly neutral, with CoinEx expressing a desire for dialogue and negotiation with the hackers while also acknowledging the importance of improving security measures. The hack and theft of funds are seen as significant, but CoinEx emphasizes that the stolen funds represent a small portion of its total assets.

Go to publisher site

You May Ask

What did CoinEx do to reach out to the hackers?What is CoinEx's stance on the security of exchange assets?What does CoinEx offer the hackers as an incentive to return the stolen assets?Who orchestrated the hack on CoinEx?How much money was stolen from CoinEx in the hack?

Suggested Reads