CoinEx Offers Bounty to Hackers in Attempt to Recover Stolen Assets
CoinEx, a crypto exchange that recently fell victim to a $54 million hack, has made an open plea to the hackers involved. In a letter published on X, the platform urged the attackers to engage in discussion and potentially return the stolen assets. CoinEx even offered a bug bounty as a reward for their cooperation. The exchange emphasized the impact of the hack, highlighting that the stolen funds represented the trust of millions of users worldwide. CoinEx also expressed a desire to establish a channel of communication with the hackers, viewing them as fellow blockchain enthusiasts. However, it is important to note that offering rewards and attempting negotiations with hackers does not guarantee asset recovery.
Hackers Linked to North Korea Suspected in CoinEx Attack
There are suspicions that North Korean hackers, specifically Lazarus, were behind the attack on CoinEx. On-chain investigator ZachXBT and blockchain security firm SlowMist have both provided evidence supporting this claim. Transactions between wallets involved in previous hacks have been identified as originating from Lazarus. Given that Lazarus has reportedly stolen $270 million from other crypto platforms, it is likely that they also targeted CoinEx.
Hot Take: CoinEx Takes a Risky Approach to Recover Stolen Funds
CoinEx’s decision to offer a reward and initiate dialogue with the hackers demonstrates their determination to recover the stolen assets. However, this approach is not without risks. While there have been instances where hacked parties successfully negotiated with attackers, it is more common for hackers to ignore such requests. Additionally, if Lazarus is indeed responsible for the hack, the chances of recovering the funds may be slim. Nonetheless, CoinEx’s proactive stance shows their commitment to protecting user trust and improving their security systems.
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