1 year ago
On September 12, 2023, Coinex was hacked, losing an estimated $54 cardinal aft hackers removed important amounts of BTC, ETH, TRX, and different tokens. Three days later, Coinex released an unfastened missive to the hackers, hoping to “build a sincere and unfastened transmission of communication.”
Hacked but Hopeful: Coinex’s Pursuit of a Constructive Resolution
Founded successful 2017 by Viabtc laminitis Haipo Yang, Coinex addressed the hackers liable for the theft of $54 million successful assorted cryptocurrencies. The speech emphasized its ngo to marque “the satellite a amended spot done blockchain.” Coinex believes the hacker mightiness “share akin aspirations.” The speech seeks to initiate dialog with the attackers, noting that a important bug bounty would beryllium awarded if the funds are returned.
“We sincerely invitation you to enactment with america to resoluteness this contented successful a securer, much reasonable, and much user-friendly manner,” Coinex said. “We promote you to pass and negociate with america actively connected the blockchain oregon done our authoritative email address. If you are consenting to instrumentality the stolen assets, we volition connection you a generous bug bounty arsenic a reward,” the speech added.
Coinex’s outreach for reimbursement isn’t unprecedented successful the industry. Numerous projects, aft experiencing breaches, person tried to pass straight with the assailant. Sometimes, this approach succeeds, and the attacker is past labeled a “White Hat” hacker, returning the stolen assets successful speech for a bounty. Coinex’s missive besides highlighted that the enactment harms its users’ trust. The Hong Kong-based speech emphasized that specified a hack is simply a sedate crime, stating:
Stealing a important luck done cyberattacks is considered a ‘severe transgression act’ successful immoderate country, and ineligible responsibilities cannot beryllium evaded.
Recovering the funds mightiness beryllium improbable if the hackers are linked to the North Korean hacking radical Lazarus Group. Lazarus Group was allegedly progressive erstwhile funds were directed to an code antecedently utilized successful the Stake.com breach. The group, believed to beryllium affiliated with the Democratic People’s Republic of Korea (DPRK) government, has nary known instances of returning stolen assets.
What bash you deliberation astir Coinex publishing an unfastened missive to the hacker? Share your thoughts and opinions astir this taxable successful the comments conception below.
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