Bitcoin Forum

Given the recent hacking, Binance offered $ 250,000 to anyone who helped to find the whereabouts of the hackers, who had tried to sabotage them. The prize will be paid at BNB or Binance Coin.

Honestly, I don't think this gonna help to catch the hackers. Out of 100% hacks, only a few percentage got cought, and usually those are less experienced. Therefore, unless someone gives them up, no chance for Binance to catch those who tried to hack it. Good luck though! Hopefully, those bold ones will be caught and penalized as deserved.

And straight all still rushed to the search, it's not even looking for a needle in the hay. The idea is correct, and what else they could do, just the result of its obvious and about the stolen money can be forgotten.

Since crypto, if fully encrypted with the algorithm and it will be sodifficult to be traced. Coinchecked was paid the user's amount with their reserve funds. And that was also happening with Mtgox to pay the creditors with company's profit from run the service for several years.

The result is obvious. You're right they just need to forget. Or this is becoming the last bet.

I'm starting to see why they call crypto the wild west ... so about that 10 Million Dollars reward to capture Billy the Kid the hackers, is that for death or alive ?  ::)

Binance can even form a group of white hackers with the money it make in one day. They must start such foundations to protect and inform investors and fight against illegal activity.

we will not know before anyone tries. every behavior or act of course there are traces. because there is no that system

suggest I'd better binance to report to the FBI about the incident because it is a big crime and ordinary people may find it very difficult to find the perpetrator.

Why the title is "10 Million Dollars Rewards" but the bounty is only $250k? How could that be? Would that be available to 40 Hackers to be caught?

They just do it to show initiative. Probably the hackers won't be captured or found.
Only thing we can do against hackers is to keep password, private keys, but also APIs safe to increase the security. It still won't give 100% security though.
That's why I keep most of my coins/tokens which I'm not trading on my ledger nano.

Bittrex might as well offer a million dollars for some reward too in catching spammers and cheaters. You know they can just make Tethers out of thin air, as Binance can with their almighty BNB tokens.

I would not be surprised if they already did catch one or two people, and maybe those people would offer themselves up for the reward. Everything in centralized crypto is a shade over our eyes. These are not the good guys, friends.

this is starting to look strangely familiar and extremely suspicious to be honest!

usually when an exchange gets hacked, based on history, there is a good chance that they are lying and it was they robbed their users not a hacker robbing them and users. ... this is first suspicion.

when the exchanges continue to pull these publicity stunts like offering a ridiculous amount of money ($10 million) reward instead of hiring some people and paying them a LOT less to do the job, that increases the suspicion even more.

Binance offered a 250k which is very big amount also a good move.
Many exchanges, mining sites are facing ddos attack loosing millions.
Hope this will work for them to catch those hackers.

They offered a reward for the head of a hacker, did they review militants? I wonder if it will work in the real world.

Now we are talking. They should invest that money in security, I hope that they will now. I don't think that catching hackers is possible or they could catch them all.
Do you have some link to this news?

For what I read they get stole worth about $700 million since the start of this year, so yes, definitely this amount is ridiculous and don't give trust in binance. We will see..

I do not think so, Binance is very reputable and never fake news. The money they have lost is true and they are trying to investigate the crime. My friends and I are also in the process of identifying the criminals. Work is really hard and $ 10m is a very worthwhile figure.

If someone realy hacked them that person is probably dead buy now in some ditch same goes if it was inside job.Imo this looks more like a marketig trick or miss direction from other side that is better not to be revealed

I think such announcements are showing that Binance exchange here for a long time. They proactively trying to punish anyone who can cast a shadow on their reputation showing it's users that they are safe with them.

So, let's make a group and try to get the money

10 million dollars is just a number, they will not give those who catch hackers 10 million dollars, I am sure that they will not even spend more than $500K, but still it is good news.

I think that's a very good strategy, which will make the hackers fight each other strength, where one is used for good, and one for evil, I hope this strategy will go according to plan and make crypto exchanger more safe

I hope hacker will be caught even if I think 30/100% chances they will be caught because think they are not just so so hackers in a sense that they got guts to hack known trading site like binance. But still good idea to provide 10$ mil reward to capture hackers.

care to bring some proof here?this kind of topic requires any proof unless this was just another stories?if binance really offers this huge amount then this may result to positive outcome because with rewards people will do anything to give help because of money involvement.

Yeah this must be resolve,the work of this scammers and hackers must stop,they have victimized lots of peple and i guess its enough

Detecting hackers were too hard, but putting some reward may help, if there are groups of people who are an enthusiast on detecting hackers who have skills and apparatus to detect them, then they might be inspired to work on finding it. Hope they know them, to stop all doubts in binance which is a good exchange too.

Any legit source that binance offered 10 million dollars for capturing hackers? why did the OP stated 250K USD though the title said 10 million dollars? what's the real number? Oh never mind just googled the article, so the exchange has an allocation of $10,000,000 USD for their own future bounty awards against hacking and any illicit activity, so the tip for the recent hacking incident is 250K then the whole allocation for future purposes is 10 million, I hope they are not throwing all of their money for just bounty hunting.

So is it 10 mill or 250K?

PS Please don't tell Thai police about it, they will quickly catch some Burmese illegals and make them admit Binance hacking, Kennedy killing and who knows what else lol.

hey dude , check again their official announcement ,
nowhere they asked for head of hacker or kill them .

it was a news/blog site which posted a DEAD or ALIVE poster , which caused confusion between readers .
and misery is no one want to read real fact , they just believe anything .

i think 10m dollars fund for future , in any hack or any such similar incident they will reward whistle blowers from this fund .

still 250k dollar is good amount , but main thing is who is capable to catch hackers , lol .

Binance CEO put a reward for hacker info ,
but he or his exchange did not share any other info .
even a expert white hat hacker too will find it impossible to catch those hackers without a single info .

only binance team have all that info.

Not bad so $ 250,000. but also to find probably that problem. But we will hope to find, The worst thing is that such people remain unpunished, this is the price of anonymity in the crypto currency.

binance is really the number 1 exchange in the world. they always try to do everything clearly. even then it showed up. I really like the policy of this exchange