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Poloniex's Justin Sun Announces 5% Bounty For Stolen $126 Million Funds

source-logo  coingape.com 10 November 2023 21:52, UTC

Justin Sun, who acquired Poloniex, a global digital asset exchange company, offered a bounty of 5% to the hackers, who stole over $126 million in assets.

On November 10, after suffering a huge loss, Justin took to X, formerly Twitter, and shared an update, asking the hackers for a refund in seven days.

Justin Sun’s Message To Hackers

In his tweet, Justin Sun made a 5% bounty offer, asking the Poloniex hacker to return the funds to the following ETH/TRX/BTC wallets. He gave the hackers a time period of seven days to consider this offer, or else face legal enforcement.

He mentioned the three wallets, in which the hackers needed to send the funds.

ETH Wallet: 0x176F3DAb24a159341c0509bB36B833E7fdd0a132

TRX: TUgSgCQL6pMSy9zByn4sgxqrJa95sZExBG

BTC: 14XKsv8tT6tt8P8mfDQZgNF8wtN5erNu5D

In addition, Changpeng Zhao (CZ) CEO of Binance reacted to the Poloniex hack issue and hoped that it would be resolved soon. He further assured to offer any kind of help, if any of the stolen funds flow towards Binance, one of the largest cryptocurrency exchanges, globally.

Poloniex’s $126 Million Asset Theft

Earlier data showed $100 million loss suffered by Poloniex, which increased to $126 million. The security hack was reported on one of its wallets, which is tagged as Poloniex 4 on Etherscan.

According to reports, approximately 357 transactions were made, and over $126 million of assets including ETH, USDT, BTC, USDD, USDC, ETH, FLOKI, and TUSD were stolen.

Meanwhile, hackers used the stolen funds to pump Justin Sun-linked Tron blockchain’s native TRX token. In just 40 minutes, the Poloniex attackers purchased over $22 million worth of TRX on the Tron blockchain, during the time of writing.

TRX price is trading at 6% at $0.1052, and the market cap at the time of writing is reportedly rising 5.13% at $9 billion.