Confirmed Hacker Identity at Poloniex Prompts $10M Bounty Offer

Confirmed Hacker Identity at Poloniex Prompts $10M Bounty Offer

Cryptocurrency Exchange Poloniex Offers Hacker $10 Million Bounty for Stolen Assets

Poloniex, a cryptocurrency exchange, has made an attempt to reach out to the hacker in charge of stealing more than $100 Million in digital assets from one of its wallets. The exchange states to have identified the hacker and is now giving the perpetrator an opportunity to return the assets in exchange for a $10 Million bounty. This message was shared by blockchain security firm PeckShield on social media, confirming that Poloniex has indeed identified the hacker. The exchange likewise mentioned that the stolen funds are already marked and cannot be used, and that it is working with law enforcement agencies from the United States, Russia, and China.

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Unconvinced Community Members

Regardless of the exchange’s claim of identifying the hacker, some community members remain unconvinced in relation to this development. They point out that the involvement of law enforcement from multiple countries and the message being sent in 15 languages implies that the hacker’s identity may not be as clear as Poloniex claims.

Hack and Response

The hack took place earlier in November when a cryptocurrency wallet belonging to Poloniex experienced suspicious outflows. As a result, the exchange disabled the wallet for maintenance and offered a 5% bounty for the return of the funds. Later, the exchange resumed withdrawals after enhancing its security with the help of a security auditing firm.

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Hot Take

Poloniex’s offer of a $10 Million reward to the hacker is a bold move in the ongoing battle against cryptocurrency theft. It remains to be seen whether the perpetrator will take up the offer or face the consequences of law enforcement action. The response from the cryptocurrency community will likely shape how future incidents of theft and hacks are addressed by exchanges and authorities.

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Coinan Porter stands as a notable crypto analyst, accomplished researcher, and adept editor, carving a significant niche in the realm of cryptocurrency. As a skilled crypto analyst and researcher, Coinan’s insights delve deep into the intricacies of digital assets, resonating with a wide audience. His analytical prowess is complemented by his editorial finesse, allowing him to transform complex crypto information into digestible formats.

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