Poloniex Hacker Offered 5% White Hat Bounty

Justin Sun in a black shirt

Poloniex, a cryptocurrency exchange owned by Justin Sun, is offering a 5% white hat bounty to the hacker who stole over $42 million in assets on Friday, November 10, 2023.

The exchange has asked the hacker to return the stolen funds to the following ETH/TRX/BTC wallets:

  • ETH Wallet: 0x176F3DAb24a159341c0509bB36B833E7fdd0a132
  • TRX Wallet: …
  • BTC Wallet: …

Poloniex has given the hacker 7 days to consider the offer before engaging law enforcement. It is unclear if the hacker will accept the offer. However, if they do, it would be one of the largest white hat bounties ever paid.

What is a white hat bounty?

A white hat bounty is a reward offered to hackers who find and report security vulnerabilities to the affected company or organization. White hat bounties are often used to incentivize hackers to report vulnerabilities responsibly, rather than exploiting them for their own gain.

Poloniex is offering a white hat bounty because it wants to recover the stolen funds and prevent future hacks. By offering a bounty, the exchange is hoping to encourage the hacker to return the funds and/or provide information about how the hack was carried out.

What are the chances of the hacker accepting the bounty?

It is difficult to say whether or not the hacker will accept the bounty. On the one hand, the bounty is a significant sum of money. On the other hand, the hacker may be worried about being caught by law enforcement. If the hacker does not accept the bounty, Poloniex has said that it will engage law enforcement. The exchange is working with law enforcement to investigate the hack and track down the hacker.

Author: Godwin Okon