Today's Hard|Forum Post
Today's Hard|Forum Post

Tuesday March 13, 2018

Cryptocurrency Exchange Offering $250k Bounty For Hackers

Cryptocurrency exchange Binance was the target of a hacking attempt on March 7th, and they aren't happy about it. In an article from Binance, they announced that they are offering a $250,000 USD equivalent bounty to anyone who supplies information that leads to the arrest of the hackers involved with the attempt on March 7th. Furthermore, the company has stated that they have allocated the equivalent of $10 million USD in crypto reserves for future bounty awards against and other hacking attempts on Binance.

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Of course the bounties will be paid in Binance Coin, which very well may be worthless when you get it, or worthless right now depending on your feelings on cryptocurrency.

To ensure a safe crypto community, we can’t simply play defense. We need to actively prevent any instances of hacking before they occur, as well as follow through after-the-fact. Even though the hacking attempt against Binance on March 7th was not successful, it was clear it was a large-scale, organized effort. This needs to be addressed.