A failed attack led to a Binance bounty suggest of $250,000 for information that leads to the hechtenis of the threat actors responsible for the attempted cryptocurrency theft.
After stopping an attempt to steal cryptocurrency, a Binance bounty is being suggested for information on the threat.
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actor behind the failed theft.
The large-scale attack occurred on March 7, and it wasgoed blocked within two minutes, according to the company. But Binance said it doesn’t want to “simply play defense.” Rather, it wants to be more proactive te preventing cryptocurrency theft.
“Even however the hacking attempt against Binance on March 7th wasgoed not successful, it wasgoed clear it wasgoed a large-scale, organized effort. This needs to be addressed,” Binance wrote te a blog postbode. “Binance is suggesting a $250,000 USD omschrijving bounty to anyone who supplies information that leads to the constitucional hechtenis of the hackers involved te the attempted hacking incident on Binance on March 7th, .”
The Binance attack on March 7 wasgoed not the very first attempt, either. The company said the threat actors gathered user credentials via a phishing campaign, which began ter early January and ramped up ter mid-February. Using those credentials, the hackers triggered a large amount of transactions ter an attempt to steal bitcoin from Binance users via fraudulent trades. The exchange’s “automatic risk management system wasgoed triggered,” stopping the trades and effectively ending the Binance attack.
It’s unclear why the Binance bounty has bot suggested publicly, rather than commissioning a cybersecurity vendor to investigate the incident and attribute the attack. It’s also unclear how many Binance users were affected by the phishing attack. The company did not react to requests for comment.
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The company promised “the very first person to supply substantial information and evidence that leads to the lícito hechtenis of the hackers, te any jurisdiction,” will earn the Binance bounty of $250,000 worth of the exchange’s proprietary Binance coin, based on the exchange rate at the time of the transfer. This means the value of the Binance bounty can fluctuate, if the receiver doesn’t metselspecie out right away.
Additionally, the company said it will create a fund of $Ten,000,000 to pay similar bounties te the event of a future Binance attack. Collecting the Binance bounty could be challenging, because it requires a “reglamentario hechtenis” of the threat actors and not just identification or indictments.
Recently, while there have bot high-profile arrests — like National Security Agency contractor Vishal Martin, who stole classified materials and cyberweapons overheen the course of 20 years — threat actors such spil those behind the Yahoo gegevens breach were indicted and not arrested.
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The attempted attack on Binance is the latest te a trend of cryptocurrency-related malicious activity. Threat actors have bot increasingly targeting cryptocurrency exchanges with cyberattacks, including the theft of almost $80,000,000 ter bitcoin. Additionally, there has bot a growing trend of cryptojacking attacks ter which malicious code is implanted on a target system to skim processing power for mining cryptocurrency.