Crypto Exchange CoinEx Promises Generous Bug Bounty Reward to Hacker Following $70,000,000 Exploit
Days after suffering a security breach, crypto exchange CoinEx is attempting to reach out to the hackers responsible for the incident.
In an open letter to the hackers, CoinEx says it is ready to reward the perpetrators of the theft with a “generous bug bounty” if the stolen assets are returned.
“We hope you recognize the impact of this event on each one of those users. We would appreciate it if you understand the concerns and frustrations of these affected users. We sincerely invite you to work with us to resolve this issue in a more secure, more reasonable, and more user-friendly manner. We encourage you to communicate and negotiate with us actively on the blockchain or through our official email address.”
According to CoinEx, the losses incurred from the security breach are estimated to be approximately $70 million.
“Preliminary assessments indicate unauthorized transactions involving Ethereum (ETH), Tron (TRON), and Polygon (MATIC). The precise amount of the loss is still being determined, and the affected fund is just a very small portion of CoinEx’s total assets.”
While assuring affected users that they will be fully compensated for any losses, CoinEx has also released details on the resumption of withdrawals.
“Caution: any claims stating that CoinEx has resumed withdrawal services are false and scam-related….
We’ve finalized our strategy to resume withdrawals and are set to progressively resume these services within seven working days. Ensuring 100% asset security remains our top priority before reactivating withdrawal functionalities.”
Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Check Price Action
Follow us on Twitter, Facebook and Telegram
Surf The Daily Hodl Mix
 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Generated Image: Midjourney
The post Crypto Exchange CoinEx Promises Generous Bug Bounty Reward to Hacker Following $70,000,000 Exploit appeared first on The Daily Hodl.
Go to Source
Author: Mark Emem
