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Home»Scams»Crypto Exchange CoinEx Promises Generous Bug Bounty Reward to Hacker After $70,000,000 Exploit
Crypto Exchange CoinEx Promises Generous Bug Bounty Reward to Hacker After $70,000,000 Exploit
Scams

Crypto Exchange CoinEx Promises Generous Bug Bounty Reward to Hacker After $70,000,000 Exploit

September 22, 2023No Comments2 Mins Read

Days after a security breach, crypto exchange CoinEx is attempting to contact the hackers responsible for the incident.

CoinEx writes in an open letter to the hackers say it is willing to reward the perpetrators of the theft with a “generous bug bounty” if the stolen assets are returned.

“We hope you recognize the impact of this event on each of these users. We would appreciate it if you understand the concerns and frustrations of these affected users. We sincerely invite you to cooperate with us to solve this problem in a more secure, reasonable and user-friendly way. We encourage you to actively communicate and negotiate with us via the blockchain or via our official email address.”

According to MuntExlosses from the security breach are estimated at approximately $70 million.

“Preliminary assessments indicate unauthorized transactions involving Ethereum (ETH), Tron (TRON) and Polygon (MATIC). The precise amount of the loss is still being determined, and the affected fund is a very small portion of CoinEx’s total assets.”

While affected users have been assured that they will be fully compensated for any losses, CoinEx has also released details about the resumption of filming.

“Please note that all claims that CoinEx has resumed withdrawal services are false and scam related….

We have finalized our strategy to resume admissions and plan to gradually resume these services within seven business days. Ensuring 100% asset security remains our top priority before reactivating recording functionality.”

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Bounty Bug CoinEx Crypto Exchange Exploit Generous Hacker Promises Reward

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