Binance Offers $250000 Bounty For Arrest of Hackers

Binance Offers $250000 Bounty For Arrest of Hackers

Though the websites of crypto exchanges are designed on a very secure server, however, a single bug can let hackers in and make transactions of millions like we witnessed in the case of Coincheck. Once control of these accounts had been taken, the attackers created a trading API key for each account - but then did nothing except bide their time.

After the investigation, Binance has identified 31 accounts which appear to belong to the hackers, and every single abnormal trade executed in the VIA/BTC market is going to be reversed. "Withdrawal requests were then attempted from these accounts immediately afterwards", Binance explained.

Fortunately, the cryptocurrency exchange was able to freeze the coins deposited by the bad actors and to refund an equivalent amount in Bitcoins to affected users' accounts. "Not only did the hacker not steal any coins out, their own coins have also been withheld".

In the wake of the attack, many have praised the speed of the team's reaction and its effectiveness. Binance also said that all funds are safe from that hack attempt.

"There are still some users whose accounts where phished by these hackers and their BTC were used to buy VIA or other coins". Binance was, however, unable to reverse some of the trades from some of the targeted accounts by the criminals.

Gilead Sciences, Inc. (NASDAQ:GILD) CFO Robin L. Washington Sells 5000 Shares
Delta Asset Management Llc Tn invested in 2,105 shares or 0.03% of the stock. 2,820 were reported by Ashfield Cap Prtn Ltd Llc. Following the transaction, the executive vice president now owns 64,613 shares in the company, valued at $4,772,962.31.

"As in a football match, you can't just play defense", he tweeted. "We need to actively prevent any instances of hacking before they occur, as well as follow through after-the-fact", the firm argued.

Binance said that even though the attack was ultimately unsuccessful, "it was clear it was a large-scale, organised effort". This needs to be addressed. Binance founder Zhao Changpeng has made a decision to face the hackers and is offering $250,000 payable in cryptocurrency for anyone with information that would lead to the arrest of these hackers who wanted to collapse the exchange.

If multiple sources/segments of data are used to lead to the final legal arrests, the bounty may be split between sources.

In bid further bid to prevent these attacks and ensure any such attempts don't go unpunished they also announced a $10 million reserve as bounty funds.

He is not the first cryptocurrency industry figure that scammers impersonated to pull off a similar scam.

Related:

  • Ice Cube Fires Roger Mason As BIG3 Commissioner & Replaces Him

    Ice Cube Fires Roger Mason As BIG3 Commissioner & Replaces Him

    He played a significant role in negotiations that left players with less of the NBA's basketball-related income. Ice Cube has replaced Mason as the BIG3 commissioner.
    Wrinkle in Time a big leap for teen star

    Wrinkle in Time a big leap for teen star

    Which, a strong and benevolent character that only seeks to liken Winfrey with God even more so than she already is. In 1962, Madeleine L'Engle was told that her complex children's book, " A Wrinkle in Time " would be a huge flop.
    Did SuperSlim Me Plan DVD maker Scarlett Moffatt starve to lose weight?

    Did SuperSlim Me Plan DVD maker Scarlett Moffatt starve to lose weight?

    The Sun revealed that the star hadn't actually achieved her incredible weight loss by sticking to her plan she promotes on the DVD.
  • The Gabelli Funds LLC Acquires 15000 Shares of Abbott Laboratories (ABT)

    It turned negative, as 53 investors sold FB shares while 618 reduced holdings. 22 funds opened positions while 54 raised stakes. The stock of Abbott Laboratories (NYSE: ABT ) has "Market Perform" rating given on Thursday, October 19 by BMO Capital Markets.
    Southwest Airlines Co (NYSE:LUV) CFO Sells $1174762.40 in Stock

    Southwest Airlines Co (NYSE:LUV) CFO Sells $1174762.40 in Stock

    Credit Suisse maintained Southwest Airlines Co . (NYSE:LUV) earned "Outperform" rating by Credit Suisse on Tuesday, April 12. The airline reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.76 by $0.01.

    Foster & Motley Inc. Sells 8353 Shares of Wells Fargo & Co

    Fisher Asset Management Llc decreased Hope Bancorp Inc Com stake by 22,232 shares to 124,995 valued at $2.21 million in 2017Q3. The stock of Wells Fargo & Company (NYSE: WFC ) has "Hold" rating given on Sunday, February 4 by BMO Capital Markets.
  • Crown Castle International Corp. (REIT) (NYSE:CCI) SVP Sells $75391.47 in Stock

    On Monday, February 12 PETRIE MICHAEL J sold $35,308 worth of Commerce Bancshares, Inc. 6,466 shares were sold by Forese James A . Sumitomo Mitsui Tru has invested 0.15% of its portfolio in Crown Castle International Corp . (NYSE:REIT) for 29,467 shares.
    Packers have interest in Allen Robinson, Sammy Watkins

    Packers have interest in Allen Robinson, Sammy Watkins

    If not for a torn ACL, the Jaguars, who are also interested in bringing Robinson back, might have pushed harder to bring him back. According to Spotrac , the Packers now have $38.38 million of the cap committed to their receivers, far and away a league-high.

    Wesley Matthews (leg) likely finished for Mavericks this season

    With a 21-46 record entering Monday, the Dallas Mavericks are clearly preparing to get as many draft lottery balls as possible. Wesley Matthews will miss the rest of the season due to a broken leg, sources told ESPN .
  • Zacks Investment Research Upgrades Cooper Tire & Rubber (NYSE:CTB) to "Buy"

    It is positive, as 53 investors sold CME shares while 219 reduced holdings. 21 funds opened positions while 69 raised stakes. Her Majesty The Queen In Right Of The Province Of Alberta As Represented By Alberta Mngmt Corp holds 0.01% or 38,884 shares.

    Could Starbucks Corporation (NASDAQ:SBUX) Skyrocket? The Stock Had Too Little Sellers

    Other institutional investors have also bought and sold shares of the company. 100 funds opened positions while 428 raised stakes. Harbour Investment Management LLC bought a new position in shares of Starbucks in the 4th quarter worth about $4,662,000.
    LeBron James got away with the most blatant travel against the Lakers

    LeBron James got away with the most blatant travel against the Lakers

    The Cavaliers , on the other hand, dropped to fourth in the Eastern Conference, just a half game back of the Indiana Pacers . The Lakers would have to do some serious maneuvering to re-sign Randle while adding two max free agents, but it's possible.

Comments

Latest news

Seminoles return to NCAA tournament, will open against Missouri
If the Seminoles advance, they would face the victor of No. 1 Xavier and NC Central/Texas Southern on Sunday. The Seminoles are the No. 9 seed in the West Region and will open against Missouri on Friday.

Axa Cuts Position in HCA Healthcare Inc (HCA)
ValuEngine upgraded shares of HCA Healthcare from a "hold" rating to a "buy" rating in a research note on Thursday, November 30th. It is negative, as 69 investors sold HCA shares while 180 reduced holdings. 54 funds opened positions while 143 raised stakes.

The Dollar Tree (DLTR) Raised to "Overweight" at Barclays
The company reported $1.89 earnings per share (EPS) for the quarter, missing the Zacks' consensus estimate of $1.90 by ($0.01). Finally, BidaskClub downgraded Dollar Tree from a "buy" rating to a "hold" rating in a research report on Thursday, March 1st.

Quarterly Gainer: Knight-Swift Transportation Holdings Inc. (KNX) stock performed 11.70%
Investors generally keep an extensive variety of technical indicators at their disposal for completing technical stock analysis. Finally, Atria Investments LLC acquired a new stake in Knight-Swift Transportation in the 4th quarter valued at $254,000.

Why to Keeping Eye on ConocoPhillips (COP), Texas Instruments Incorporated (TXN)?
The firm owned 10,234 shares of the semiconductor company's stock after acquiring an additional 781 shares during the quarter. Mariner Wealth Advisors Llc decreased Ishares Tr (IWM) stake by 3,615 shares to 121,439 valued at $17.99 million in 2017Q3.

Estabrook Capital Management Has $12.48 Million Position in ConocoPhillips (COP)
Barclays set a $71.00 price target on ConocoPhillips and gave the company a "buy" rating in a research note on Sunday, March 4th. The company's stock had a trading volume of 1,536,768 shares, compared to its average volume of 5,870,731.

NCAA snubs USC, Notre Dame among NIT field
Hampton earned an automatic bid to the NIT by virtue of their regular-season title in the Mideastern Athletic Conference (MEAC). The Pirates almost earned an NCAA bid, but lost to North Carolina Central in the MEAC championship on Saturday, 71-63.

USC Earns No. 2 Seed in NCAA Women's Basketball Tournament
General admission seating is available for $15 (adult) for the first round (both games) and $12 (adult) for the second round. North Carolina A&T finished with a record of 23-8 and finished No. 1 in the Mid-Eastern Atlantic Conference.

Steam's Warhammer: Vermintide 2 Gets Off To A Very Fast Start
Developer Fatshark finally released its co-op action game Warhammer: Vermintide 2 on March 8 after several pre-release betas. Warhammer: Vermintide 2 sold 500K units in nearly a week and the biggest villain for that is Steam.

Sereno resign? Cebu's court workers neutral
Davide, who was himself subjected to an impeachment proceeding at the Lower House, was chief justice from 1998 to 2005. Sereno said she was saddened that some judges and employees "have succumbed to pressures to enter the political fray".

Evacuations ordered for parts of southern Santa Barbara County as storm approaches
Officials have advised residents to look through emergency information at ReadySBC.org. It was last updated at 4 p.m. that day and is subject to change.

Laredo Petroleum (NYSE:LPI) Receives Media Sentiment Rating of 0.19
It is positive, as 23 investors sold LPI shares while 41 reduced holdings. 92 funds opened positions while 249 raised stakes. Barclays Capital maintained the stock with "Buy" rating in Friday, April 21 report. (NYSE:LPI) to report earnings on May, 2.

(NYSE:OXY) Stake Increased by Sun Life Financial INC
It is positive, as 20 investors sold SHLD shares while 30 reduced holdings. 16 funds opened positions while 25 raised stakes. The firm has a market cap of $48,717.04, a P/E ratio of 37.23, a price-to-earnings-growth ratio of 3.76 and a beta of 0.64.

Defence Minister Nimala Sitharaman To Visit China Next Month
There have been indications of late that both the Asian giants had put their mind to try and improve relations. Last month, Foreign Secretary Vijay Gokhale also made a trip to Beijing, where he held talks with Wang.

Somewhat Positive Press Coverage Somewhat Unlikely to Impact Umpqua (UMPQ) Stock Price
Finally, The Manufacturers Life Insurance Company lifted its position in shares of Umpqua by 9.1% during the fourth quarter. It increased, as 21 investors sold UMPQ shares while 76 reduced holdings. 36 funds opened positions while 93 raised stakes.

Other news