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Tron Founder Justin Sun Offers 5% Cut to Hacker After Poloniex Crypto Exchange Loses $125,000,000 in Cyber Heist

source-logo  dailyhodl.com 10 November 2023 23:13, UTC

Tron (TRX) founder Justin Sun is offering a 5% white hat bounty to the hacker who exploited the exchange Poloniex for $125 million in crypto.

Sun, who acquired Poloniex in 2019, says that the hacker has a week to accept the offer and return the assets to the wallets he took them from, otherwise, law enforcement will have to get involved.

“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 seven days to consider this offer before we engage law enforcement.”

According to cybersecurity firm PeckShield, the cyber bandit made away with $56 million worth of top altcoin Ethereum (ETH), $48 million worth of TRX, and $18 million worth of king crypto Bitcoin (BTC).

Blockchain tracking firm Lookonchain finds that the bad actor also stole a slew of other crypto assets, including stablecoins Tether (USDT), USD Coin (USDC), as well as popular memecoin Shiba Inu (SHIB).

Lookonchain further finds that the hacker was in a rush and accidentally sent $2.5 million worth of the digital asset Golen (GLM) to the wrong address, essentially burning the tokens.

Sun goes on to say that Poloniex will fully reimburse the stolen funds and collaborate with other exchanges to recover the assets.

“We are currently investigating the Poloniex hack incident. Poloniex maintains a healthy financial position and will fully reimburse the affected funds. Additionally, we are exploring opportunities for collaboration with other exchanges to facilitate the recovery of these funds.”