Cryptocurrency Exchange Offering $250k Bounty For Hackers

Discussion in '[H]ard|OCP Front Page News' started by rgMekanic, Mar 13, 2018.

  1. rgMekanic

    rgMekanic [H]ard|News Staff Member

    May 13, 2013
    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.

    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.
  2. TwistedAegis

    TwistedAegis [H]ardForum Junkie

    Oct 7, 2009
    Lol @ paying them in your own centrally issued crypto. "Hey, after we're bankrupt, if you catch who did it we'll add you to our list of creditors!"

    May I suggest, if that's real money, allocate $10M towards your infosec budget instead.
  3. nutzo

    nutzo [H]ardness Supreme

    Feb 15, 2004
    After they identify the hackers, they should use some of that 10 million to hire a hit squad.

    Maybe after several hackers commit arkancide, others might start looking for another line of work.
  4. Kdawg

    Kdawg Gawd

    Aug 12, 2017
    sounds like bitconneeeeeeeeeeeeeect.
  5. Twisted Kidney

    Twisted Kidney 2[H]4U

    Mar 18, 2013
    Exactly what I was thinking, reward offered in theft of scam-bux payable in scam-bux.
    rgMekanic likes this.