{"id":560112,"date":"2023-11-10T14:38:29","date_gmt":"2023-11-10T14:38:29","guid":{"rendered":"https:\/\/uniquehot.com\/?p=560112"},"modified":"2023-11-10T14:38:29","modified_gmt":"2023-11-10T14:38:29","slug":"5-million-reward-justin-suns-bold-move-against-poloniex-attackers","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/5-million-reward-justin-suns-bold-move-against-poloniex-attackers\/","title":{"rendered":"$5 Million Reward: Justin Sun’s Bold Move Against Poloniex Attackers"},"content":{"rendered":"

Crypto exchange platform Poloniex was attacked by a bad actor, losing over $60 million of its customer’s funds. The Justin Sun led the exchange and launched an investigation, which remains ongoing, to determine the identity of the attackers.<\/strong><\/p>\n

Related Reading: Shiba Inu Burn Rate Soars Over 3,000% \u2013 What\u2019s The Impact On Price?<\/a><\/div>\n

Poloniex Makes Offering To Attackers<\/h2>\n

The crypto analytics platform Nansen data<\/a> indicates that over $68 million in tokens left Poloniex over the past day. The image below shows that the attacker stole assets in ETH, BADGER, REN, OKB, NEXO, and 170 other tokens.<\/p>\n

\"Poloniex
Assets that reported the most losses on Poloniex hack Source: Nansen<\/figcaption><\/figure>\n

Nansen also confirmed that the biggest losses were suffered in top assets, Ethereum and USDT, with around $11 million each. Other tokens such as ELON, USDC, SHIB, and GLM saw inferior losses but still in the millions of dollars.<\/p>\n

A few hours ago, as mentioned, the exchange launched an investigation and Justin assured its users that the platform keeps a \u201chealthy financial position.\u201d In that sense, Sun, also the founder of blockchain TRON, claimed that users will be reimbursed for their losses.<\/p>\n

The platform is currently exploring a partnership with other crypto exchanges to recover the fund. Sun stated<\/a>:<\/p>\n

We are offering a 5% white hat bounty to the Poloniex hacker. Please return the funds to the following ETH\/TRX\/BTC wallets. We will give you 7 days to consider this offer before we engage law enforcement.<\/p><\/blockquote>\n

In the crypto community, some users praised these efforts to recover the fund and encouraged the attacker or attackers to take the bounty for \u201cpointing out vulnerabilities\u201d in the platform\u2019s security. However, other users were critical of the measure. One community member stated:<\/p>\n

(\u2026) a white hat doesn’t steal funds and then ask for a bounty, whatever you’re promising, law enforcement will be involved. It’s like saying you can beat someone to death but if you take them to the hospital you’ll be safe (\u2026).<\/p><\/blockquote>\n

Who Is Behind The Poloniex Attack?<\/h2>\n

It remains to be seen if the attacker will accept the offer. In the crypto space, many cyberattacks have been conducted by state-sponsored hacker groups, such as the infamous Lazarus Group, allegedly working for the North Korean Government.<\/p>\n

According to a report<\/a> from our sister website, Bitcoinist, this group stole billions of dollars from the nascent industry in the past two years. The terrorist group is allegedly a key component of the country\u2019s nuclear program. Jason Bartlett, a researcher at the Center for a New American Security (CNAS), said:<\/p>\n

Cryptocurrency offers Pyongyang a new kind of currency that is substantially less regulated and understood by national governments, financial institutions, and international organizations.<\/p><\/blockquote>\n

However, cryptocurrencies also operate as an important tool for law enforcement agencies to track down and cut funding for rogue entities. Due to blockchain technology’s transparency, some criminals stay clear of digital assets and crypto exchanges<\/a>.<\/p>\n

Related Reading: $9 Trillion BlackRock Files Ethereum Spot ETF, What\u2019s So Special About It?<\/a><\/div>\n

As of this writing, Ethereum (ETH) trades at $2,077 with a 7% profit in the last 24 hours.<\/p>\n

\"Poloniex
ETH’s price trends to the upside on the daily chart. Source: ETHUSDT on Tradingview<\/strong><\/a><\/figcaption><\/figure>\n

Cover image from Unsplash, chart from Tradingview<\/p>\n","protected":false},"excerpt":{"rendered":"

Crypto exchange platform Poloniex was attacked by a bad actor, losing over $60 million of its customer’s funds. The Justin Sun led the exchange and launched an investigation, which remains ongoing, to determine the identity of the attackers. Related Reading: Shiba Inu Burn Rate Soars Over 3,000% \u2013 What\u2019s The Impact On Price? Poloniex Makes Offering To Attackers The crypto analytics platform Nansen data indicates that over $68 million in tokens left Poloniex over the past day. The image below shows that the attacker stole assets in ETH, BADGER, REN, OKB, NEXO, and 170 other tokens. Nansen also confirmed that the biggest losses were suffered in top assets, Ethereum and USDT, with around $11 million each. Other tokens such as ELON, USDC, SHIB, and GLM saw inferior losses but still in the millions of dollars. A few hours ago, as mentioned, the exchange launched an investigation and Justin assured its users that the platform keeps a \u201chealthy financial position.\u201d In that sense, Sun, also the founder of blockchain TRON, claimed that users will be reimbursed for their losses. The platform is currently exploring a partnership with other crypto exchanges to recover the fund. Sun stated: We are offering a 5% white hat bounty to the Poloniex hacker. Please return the funds to the following ETH\/TRX\/BTC wallets. We will give you 7 days to consider this offer before we engage law enforcement. In the crypto community, some users praised these efforts to recover the fund and encouraged the attacker or attackers to take the bounty for \u201cpointing out vulnerabilities\u201d in the platform\u2019s security. However, other users were critical of the measure. One community member stated: (\u2026) a white hat doesn’t steal funds and then ask for a bounty, whatever you’re promising, law enforcement will be involved. It’s like saying you can beat someone to death but if you take them to the hospital you’ll be safe (\u2026). Who Is Behind The Poloniex Attack? It remains to be seen if the attacker will accept the offer. In the crypto space, many cyberattacks have been conducted by state-sponsored hacker groups, such as the infamous Lazarus Group, allegedly working for the North Korean Government. According to a report from our sister website, Bitcoinist, this group stole billions of dollars from the nascent industry in the past two years. The terrorist group is allegedly a key component of the country\u2019s nuclear program. Jason Bartlett, a researcher at the Center for a New American Security (CNAS), said: Cryptocurrency offers Pyongyang a new kind of currency that is substantially less regulated and understood by national governments, financial institutions, and international organizations. However, cryptocurrencies also operate as an important tool for law enforcement agencies to track down and cut funding for rogue entities. Due to blockchain technology’s transparency, some criminals stay clear of digital assets and crypto exchanges. Related Reading: $9 Trillion BlackRock Files Ethereum Spot ETF, What\u2019s So Special About It? As of this writing, Ethereum (ETH) trades at $2,077 with a 7% profit in the last 24 hours. Cover image from Unsplash, chart from Tradingview<\/p>\n","protected":false},"author":535,"featured_media":560116,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[134,6664,12029,12098,8877,11808,82845],"class_list":["post-560112","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-altcoin","tag-crypto","tag-crypto-hack","tag-justin-sun","tag-poloniex","tag-tron","tag-tronusdt"],"acf":[],"yoast_head":"\n$5 Million Reward: Justin Sun's Move Against Poloniex Attackers<\/title>\n<meta name=\"description\" content=\"Crypto exchange platform Poloniex was attacked by a bad actor, losing over $60 million of its customer's funds.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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Born in 1992 in Venezuela, Reynaldo is familiar with how governments and central banks can negatively affect people, their everyday lives, and their futures by creating inflation and erasing their hopes for a better future. Thus, like many Venezuelans, he embraced this new technology to help him and his family navigate difficult times. In another life, Reynaldo would have pursued a career as an investigator, most likely tracking down the origins of the Cyberpunk movement with the publication of William Gibson\u2019s \u2018Neuromancer.\u2019 The intersection between fiction and reality, with the materialization of Bitcoin in 2009, would have allowed him to dive deep into the crypto sphere as something more than a financial phenomenon but also a cultural shift in society that was brewing since the XX century, and maybe even sooner, in the XIX century with the publication of Henry David Thoreau\u2019s \u2018Civil Disobedience.\u2019 But that\u2019s for another life. 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His journey began with translating articles for various crypto news outlets, a role he took on with zeal. In 2018, amidst a challenging market, he embraced his first writing assignment, demonstrating his unwavering commitment to the nascent industry and the promise of change it bears for many people worldwide. In March 2021, he joined the prestigious crypto news outlet NewsBTC and Bitcoinist, where he not only reported on the latest crypto news but also had the privilege of interviewing some of the industry's most influential figures. A year later, his dedication and hard work were recognized, and he was promoted to Managing Editor, a position he currently holds with pride. He believes in honesty, good communication, hard work, and the power of cryptocurrency and its potential to transform people's lives, especially those alienated by the legacy financial system. Born in 1992 in Venezuela, Reynaldo is familiar with how governments and central banks can negatively affect people, their everyday lives, and their futures by creating inflation and erasing their hopes for a better future. Thus, like many Venezuelans, he embraced this new technology to help him and his family navigate difficult times. In another life, Reynaldo would have pursued a career as an investigator, most likely tracking down the origins of the Cyberpunk movement with the publication of William Gibson\u2019s \u2018Neuromancer.\u2019 The intersection between fiction and reality, with the materialization of Bitcoin in 2009, would have allowed him to dive deep into the crypto sphere as something more than a financial phenomenon but also a cultural shift in society that was brewing since the XX century, and maybe even sooner, in the XIX century with the publication of Henry David Thoreau\u2019s \u2018Civil Disobedience.\u2019 But that\u2019s for another life. In this one, Reynaldo has been trading to improve his trading skills. Since 2023, he has been trying to learn Python to create successful strategies and find ways to execute them. It is a difficult task, which continues to keep him busy today and will most likely continue to keep him busy in the near and long term. In his free time, he enjoys lifting heavy objects, reading, watching movies, and listening to his favorite music. Some of his favorite authors are Walt Whitman, William Faulkner, Allen Ginsberg, James Baldwin, Raymond Carver, Ray Bradbury, George Orwell, Mario Vargas Llosa, Reinaldo Arenas, Rafael Cadenas, and many others. Lately, he has been primarily interested in reading about dystopic societies, a topic that deeply resonates with the crypto industry. Since 2023, he has lived in Spain with his wife. He loves the weather, the food, and the people and their culture. They both expect to travel much more within the country they now call home and beyond its border. He hopes to retire with his wife, maybe in a quiet place near a beach, but most likely in a city close to a library and a university with his kids and, hopefully, grandkids.","sameAs":["https:\/\/www.linkedin.com\/in\/reynaldo-mrquez-2ab111190\/","https:\/\/x.com\/rl_m"],"url":"https:\/\/uniquehot.com\/author\/reynaldomarquez\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"$5 Million Reward: Justin Sun’s Bold Move Against Poloniex Attackers","url":"http:\/\/uniquehot.com\/news\/5-million-reward-justin-suns-bold-move-against-poloniex-attackers\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/uniquehot.com\/news\/5-million-reward-justin-suns-bold-move-against-poloniex-attackers\/"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/11\/Poloniex-Crypto-Justin-Sun-TRON-TRONUSDT-BTCUSDT-ETHUSDT.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/11\/Poloniex-Crypto-Justin-Sun-TRON-TRONUSDT-BTCUSDT-ETHUSDT.jpg?fit=640%2C427"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Reynaldo Marquez"}],"creator":["Reynaldo Marquez"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["altcoin","crypto","crypto hack","justin sun","poloniex","tron","tronusdt"],"dateCreated":"2023-11-10T14:38:29Z","datePublished":"2023-11-10T14:38:29Z","dateModified":"2023-11-10T14:38:29Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"$5 Million Reward: Justin Sun’s Bold Move Against Poloniex Attackers\",\"url\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/5-million-reward-justin-suns-bold-move-against-poloniex-attackers\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/5-million-reward-justin-suns-bold-move-against-poloniex-attackers\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2023\\\/11\\\/Poloniex-Crypto-Justin-Sun-TRON-TRONUSDT-BTCUSDT-ETHUSDT.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2023\\\/11\\\/Poloniex-Crypto-Justin-Sun-TRON-TRONUSDT-BTCUSDT-ETHUSDT.jpg?fit=640%2C427\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Reynaldo Marquez\"}],\"creator\":[\"Reynaldo Marquez\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"altcoin\",\"crypto\",\"crypto hack\",\"justin sun\",\"poloniex\",\"tron\",\"tronusdt\"],\"dateCreated\":\"2023-11-10T14:38:29Z\",\"datePublished\":\"2023-11-10T14:38:29Z\",\"dateModified\":\"2023-11-10T14:38:29Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/uniquehot.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/11\/Poloniex-Crypto-Justin-Sun-TRON-TRONUSDT-BTCUSDT-ETHUSDT.jpg?fit=640%2C427","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/560112","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/users\/535"}],"replies":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/comments?post=560112"}],"version-history":[{"count":0,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/560112\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media\/560116"}],"wp:attachment":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media?parent=560112"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/categories?post=560112"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/tags?post=560112"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}