Thursday, 30 November 2023
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Poloniex says hacker’s identity is confirmed, offers last bounty at $10M

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

Crypto exchange Poloniex recently posted a message to the hacker responsible for stealing over $100 million in digital assets from one of its wallets saying that they’ve identified the person and are giving the perpetrators a chance to return the assets in exchange for a $10 million bounty. 

An on-chain message shared by blockchain security firm PeckShield on social media shows Poloniex’s message to the hacker. According to the exchange, they have already confirmed the hacker’s identity. The exchange further highlighted that they are working with various law enforcement agencies from the United States, Russia and China.

Furthermore, Poloniex mentioned that the stolen funds are already marked and cannot be used. Even though they’ve confirmed the hacker’s identity, the exchange still gave 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 forces will take action.

On-chain message from Poloniex to the hacker. Source: PeckShield

While the message indicates that the hacker is identified, some community members are unconvinced about the new development. In a post on X (formerly Twitter), a community member said that the exchange wouldn’t need to involve the police in three different countries and send the same message in 15 different languages if the hacker is already identified. 

Related: Exploits, hacks and scams stole almost $1B in 2023: Report

The hack happened earlier this month when a crypto wallet belonging to Poloniex saw suspicious outflows. On Nov 10, various blockchain security firms determined that more than $100 million was drained from the exchange’s wallet

In response to the attack, Poloniex disabled the wallet for maintenance. In addition, the exchange also offered a 5% bounty for the return of the funds. On Nov. 15, the exchange resumed withdrawals after enlisting the help of a security auditing firm to enhance the security of the exchange.

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