Poloniex Hacker Identified: $10M Bounty Offered To Return Funds

Crypto Daily
Crypto Daily

20 Nov 2023 8:55 AM

Justin Sun’s Poloniex has revealed that it has identified the perpetrators behind the 10th of November hack, which saw the exchange lose funds to the tune of $120 million....

  • Poloniex has identified the hacker behind the $120 million hack that occurred on November 10th.
  • Justin Sun, the majority shareholder in Poloniex, has been communicating with the hacker through blockchain messages and warned of legal action.
  • Poloniex has offered a $10 million white hat reward to the hacker if they return the stolen funds by November 25th.
  • If the funds are not returned by the deadline, Poloniex will initiate legal action with the help of law enforcement officials from multiple countries.
  • The hack resulted from a compromised hot wallet and various digital assets were stolen.
  • Poloniex is working on restoring the functionality of the exchange and conducting an audit before resuming regular operations.
  • This is the second-largest hack in the crypto space in 2023.

The article provides information about the identification of the hacker behind the Poloniex hack and the actions being taken by Poloniex to recover the stolen funds. The sentiment is neutral, focusing on the facts and developments related to the hack.

Go to publisher site

You May Ask

What is the value of the stolen funds in the Poloniex hack?Who is the majority shareholder of Poloniex?What is the deadline given to the hacker to return the stolen funds?What actions will Poloniex take if the funds are not returned?How is Poloniex working to restore the functionality of the exchange after the hack?

Suggested Reads