Poloniex Identifies Hacker and Collaborates with Authorities for Investigation

Poloniex Identifies Hacker and Collaborates with Authorities for Investigation

Cryptocurrency Exchange Poloniex Takes Firm Action After the  $126 Million Hack

If you’ve been following the latest information on the November 10th hack of Poloniex, which resulted in the theft of $126 Million, you’ll be glad to hear the exchange states to have confirmed the identity of the hacker and vows to recover the stolen assets. It likewise reported the incident to authorities in the United States, China, and Russia, moving to involve police forces in their investigation and recovery efforts.

A Bored Ape Yacht Club owner skillfully dodges a fraudulent Forbes scheme when requesting a banana

Bad Actors’ Stolen Funds Are Rendered Useless

Recent developments show that the cryptocurrency exchange has pinpointed the hackers’ identities and made the stolen assets effectively useless. Furthermore, it has warned against trading with these funds, assuring influenced users that they’ll be reimbursed.

Poloniex Offers to Pay Up with a Deadline for Hackers

After 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.

Crypto Experiences Bearish Weekend: Can We Expect a Rebound?

Hot Take: Poloniex’s Forceful Response to Cryptocurrency 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 influenced users.

Author – Contributor at | Website

Bitro Conwell stands as an intellectual architect, weaving together the roles of crypto analyst, meticulous researcher, and editorial virtuoso with finesse. Amidst the digital intricacies of cryptocurrencies, Bitro’s insights resonate harmoniously with seekers of all stripes, showcasing a profound understanding. His ability to untangle the most complex threads within the crypto landscape seamlessly pairs his their editorial finesse, transforming intricacy into an artful tapestry of comprehension.

Alleged Hack Linked to Erroneous 83.65 BTC Fee Incident Reported by Bitcoin User
Read Disclaimer
This page is simply meant to provide information. It does not constitute a direct offer to purchase or sell, a solicitation of an offer to buy or sell, or a suggestion or endorsement of any goods, services, or businesses. Lolacoin.org does not offer accounting, tax, or legal advice. When using or relying on any of the products, services, or content described in this article, neither the firm nor the author is liable, directly or indirectly, for any harm or loss that may result. Read more at Important Disclaimers and at Risk Disclaimers.

Subscribe to our Social Media for Exclusive Crypto News and Insights 24/7!

Email me the hottest Crypto news!

Latest Crypto News

Share via
Share via