Poloniex says hacker’s identity is confirmed, offers last bounty at $10M

An on-chain message shared by blockchain security company PeckShield on social media shows Poloniexs message to the hacker. According to the exchange, it has already confirmed the hackers identity. Even though it validated the hackers identity, the exchange gave the hacker a possibility to return the funds by Nov. 25 and get a $10 million white hat reward.

Crypto exchange Poloniex just recently published a message to the hacker responsible for taking over $100 million in digital possessions from one of its wallets, saying that it has recognized the individual and is giving the criminal a chance to return the properties in exchange for a $10 million bounty. An on-chain message shared by blockchain security company PeckShield on social media shows Poloniexs message to the hacker. According to the exchange, it has already verified the hackers identity. The exchange further highlighted that it is working with various law enforcement firms from the United States, Russia and China. Poloniex pointed out that the stolen funds are already marked and can not be used. Even though it confirmed the hackers identity, the exchange provided the hacker a chance to return the funds by Nov. 25 and get a $10 million white hat reward. However, if the funds are not returned, police will do something about it. On-chain message from Poloniex to the hacker. Source: PeckShieldWhile the message shows that the hacker is recognized, some community members are skeptical about the new advancement. In a post on X (formerly Twitter), a neighborhood member stated that the exchange would not need to include the police in 3 various nations and send the same message in 15 various languages if the hacker is already recognized. Related: Hacks, exploits and rip-offs stole almost $1B in 2023: ReportThe hack happened earlier in November when a crypto wallet belonging to Poloniex had suspicious outflows. On Nov. 10, different blockchain security companies identified that more than $100 million was drained pipes from the exchanges wallet. In action to the attack, Poloniex disabled the wallet for upkeep. In addition, the exchange also used a 5% bounty for the return of the funds. On Nov. 15, the exchange resumed withdrawals after getting the help of a security auditing firm to enhance its security. Magazine: $3.4 B of Bitcoin in a popcorn tin: The Silk Road hackers story

Other Questions People Ask

What did Poloniex announce regarding the hacker’s identity and the bounty offer?

Poloniex announced that it has confirmed the identity of the hacker responsible for stealing over $100 million from its wallet. The exchange is offering a final bounty of $10 million for the return of the stolen funds, which must be completed by November 25. This message was shared via an on-chain communication from Poloniex, indicating their serious approach to resolving the situation.

How is Poloniex handling the situation with the hacker after confirming their identity?

After confirming the hacker's identity, Poloniex is actively working with law enforcement agencies from the United States, Russia, and China to address the theft. The exchange has emphasized that the stolen funds are marked and cannot be used, which adds pressure on the hacker to return the assets. If the funds are not returned by the deadline, Poloniex has indicated that legal actions will be pursued.

What skepticism exists within the community regarding Poloniex's announcement about the hacker?

Some community members have expressed skepticism about Poloniex's claim of having identified the hacker. Critics argue that if the hacker's identity is indeed confirmed, there would be no need to involve police from multiple countries or to communicate in various languages. This skepticism highlights concerns about the effectiveness of Poloniex's response and the overall security of the exchange.

What led to Poloniex's decision to disable its wallet and offer a bounty?

The decision to disable its wallet and offer a bounty was prompted by suspicious outflows detected on November 10, which resulted in over $100 million being drained from Poloniex's wallet. Following this incident, the exchange took immediate action to enhance its security measures and prevent further losses. The initial bounty offered was 5%, but it was later increased to $10 million as part of their ongoing efforts to recover the stolen assets.

What steps has Poloniex taken since the hack occurred earlier in November?

Since the hack, Poloniex has taken several steps to address the situation, including disabling the affected wallet for maintenance and collaborating with a security auditing firm to improve its security protocols. The exchange resumed withdrawals on November 15 after implementing these enhancements. Additionally, Poloniex has communicated its intentions clearly to the hacker, offering a substantial reward for the return of the stolen funds.