cool hit counter Hong Kong cryptocurrency exchange Cryptocurrency offers $250,000 reward for hackers_Intefrankly

Hong Kong cryptocurrency exchange Cryptocurrency offers $250,000 reward for hackers

Hong Kong cryptocurrency exchange Cryptocurrency offers $250,000 reward for hackers

The Wall Street Journal, 13 BST - The hacking attack on a Hong Kong cryptocurrency exchange last week appears to have had no small impact.

The Binance exchange said Sunday it would reward $250,000 (paid in virtual currency) to anyone who can provide information that leads to the arrest of a hacker trying to steal funds. In addition, CoinA has said that it has decided to put up $10, 000,000 in equivalent digital currency as a reserve for future bounties.

Cryptocurrency said that while the hacker attack on the exchange was unsuccessful in the March 7 incident, it was clearly a massive and organized operation. Cryptocurrency says it needs to be proactive in preventing any hacking incidents and pursuing them after they occur.

Coin chief executive Zhao Changpeng posted on Twitter that, just like in football, you can't defend all the time.

The bounty will be paid in Binance Coin, the company said. CoinMarketCap, a research site, shows that CoinCoin has a total market cap of $826 million, ranking 25th among all virtual currencies. The market capitalization of Bitcoin, the largest and most well-known virtual currency, is about $162 billion.

Cryptocurrency last week experienced what it called "a massive incident of phishing for user accounts and attempted coin theft" and subsequently halted withdrawals.

The company said no funds were stolen, but said hackers used third-party phishing sites to steal users' account logins over an extended period of time, with the earliest phished accounts dating back to January and February. The company said some users' accounts were stolen by phishers.

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