An Open Letter from CoinEx Urges Hackers to Engage in Negotiations

An Open Letter from CoinEx Urges Hackers to Engage in Negotiations

CoinEx Calls on Hackers to Negotiate and Return Stolen Assets

Digital currency exchange CoinEx, which recently experienced a whole lot of breach, has reached out to the hackers in an attempt to negotiate and retrieve the stolen assets. The exchange has even promised a substantial bug bounty reward if the funds are returned.

CoinEx’s Open Letter to Hackers

In an open letter published on X (formerly Twitter), CoinEx expressed its desire to establish a sincere and open channel of communication with the hackers. The platform acknowledged that the hack served as a valuable lesson and emphasized the importance of ensuring asset security on the platform.

The message stated that dialogue and negotiation were the only effective solution, and was known for discussions between the exchange and the hackers. It emphasized that the stolen funds belonged to millions of customers who had trusted CoinEx with their assets.

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Generous Bug Bounty Offered

CoinEx likewise offered a generous bug bounty to the hackers if they returned the stolen assets. In addition, the platform pledged to improve its security infrastructure and invited the hackers to collaborate in upgrading its security system.

$70 Million Stolen in Hack

CoinEx revealed that approximately $70 Million had been stolen from the platform, surpassing previous estimates. Nonetheless, it reassured users that this amount represented only a small portion of its total assets.

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The exchange did not specify when its services would fully resume but mentioned that withdrawals would gradually be reopened after security checks were completed. CoinEx likewise assured impacted users that it was working on wallet upgrades and would provide full reimbursement.

Hot Take: CoinEx Demonstrates Willingness to Resolve Issue

CoinEx’s open letter demonstrates its commitment to resolving the hacking incident by engaging in dialogue and negotiation with the hackers. The exchange acknowledges the impact on its users and offers a generous bug bounty as an incentive for the return of stolen assets. By emphasizing the importance of asset security and promising improvements, CoinEx intends to rebuild trust in its platform. Nonetheless, it remains to be seen whether the hackers will respond to these negotiations or if CoinEx will recover the stolen funds.

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Cyrus Dailey stands as a luminary gracefully weaving the roles of crypto analyst, tenacious researcher, and editorial artisan into a captivating narrative of insight. Amidst the intricate world of digital currencies, Cyrus’s perspectives resonate like finely tuned melodies, captivating curious minds from a myriad of perspectives. Her ability to decipher complex threads of crypto intricacies melds seamlessly with her editorial finesse, transforming intricacy into a harmonious composition of understanding.

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