Crypto Exchange Poloniex Takes Firm Action Following the $126 Million Hack
If you’ve been following the news on the November 10th hack of Poloniex, which resulted in the theft of $126 million, you’ll be glad to hear the exchange claims to have confirmed the identity of the hacker and vows to recover the stolen assets. It also reported the incident to authorities in the US, China, and Russia, moving to involve police forces in their investigation and recovery efforts.
Bad Actors’ Stolen Funds Are Rendered Useless
Recent developments show that the crypto exchange has pinpointed the hackers’ identities and made the stolen assets effectively useless. Moreover, it has warned against trading with these funds, assuring affected users that they’ll be reimbursed.
Poloniex Offers to Pay Up with a Deadline for Hackers
Following the seven-day white hat offer given to the hackers, Poloniex has raised the stakes, promising $10 million to the thieves if they return the remaining funds by November 25. After this deadline, law enforcement agencies will take over the case, and the bad actors will be targeted for arrest.
Hot Take: Poloniex’s Forceful Response to Crypto Hackers
We can see that Poloniex is taking major steps in the aftermath of the hack, showing its determination to hold the wrongdoers accountable and make things right for affected users.
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